Hybrid power systems provide cost-effective utilization of renewable energy but depend on the geographic location due to the variability of solar and wind resources. In this study, a hybrid PV/wind system is proposed for Lafarge cement factory in Al-Tafilah, Jordan. The hybrid system is sized based on maximizing the fraction of demand ma by the hybrid system (F-RES) with cost of electricity (COE) less than the grid tariff and with 100% renewable energy ratio to meet the renewable energy regulations in Jordan. Furthermore, the effect of the integration of Lithium-Ion bank batteries on the technical and economic feasibility is studied in addition to the effect of carbon social cost on the economic feasibility. The results show that the system with Lithium-Ion batteries is economically more feasible and has higher F-RES than the system without energy storage system. The proposed system size is 20.75 MW PV, 26 MW wind systems and 16.8 MWh Lithium-Ion batteries where such system has 62.53% F-RES, 0.203 USD/kWh COE, payback period of 3.44 years, net present value of 206.63 M$. In addition, the system will reduce the annual electricity bill of the factory by 21.58 M$ and the CO2 emissions by 71,373 tons.