Using renewable energy sources instead of fossil fuels is one of the best solutions to overcome greenhouse gas (GHG) emissions. However, in designing clean power generation microgrids, the economic aspects of using renewable energy technologies should be considered. Furthermore, due to the unpredictable nature of renewable energy sources, the reliability of renewable energy microgrids should also be evaluated. Optimized hybrid microgrids based on wind and solar energy can provide cost-effective power generation systems with high reliability. These microgrids can meet the power demands of the consuming units, especially in remote areas. Various techniques have been used to optimize the size of power generation systems based on renewable energy to improve efficiency, maintain reliability, improve the power grid’s resilience, and reduce system costs. Each of these techniques has shown its advantages and disadvantages in optimizing the size of hybrid renewable energy systems. To increase the share of renewable energies in electricity supply in the future and develop these new technologies further, this paper reviews the latest and most efficient techniques used to optimize green microgrids from an economical and reliable perspective to achieve a clean, economical, and highly reliable microgrid.