The purpose of this research is to propose three reliability models (configurations) with standby units and to study the optimum configuration between configurations analytically and numerically. The chapter considered the need for 60 MW generators in three different configurations. Configuration 1 has four 15 MW primary units, two 15 MW cold standby units and one 30 MW cold standby unit; Configuration 2 has three 20 MW primary units, three 20 cold standby units; Configuration 3 has two 30 MW primary units and three 30 MW cold standby units. Some reliability features of series–parallel systems under minor and complete failure were studied and contrasted by the current. Failure and repair time of all units is assumed to be exponentially distributed. Explanatory expressions for system characteristics such as system availability, mean time to failure (MTTF), profit function and cost benefits for all configurations have been obtained and validated by performing numerical experiments. Analysis of the effect of different system parameters on the function of profit and availability has been carried out. Analytical comparisons presented in terms of availability, mean time to failure, profit function and cost benefits have shown that configuration 3 is the optimal configuration. This is supported by numerical examples in contrast to some studies where the optimal configuration of the system is not uniform as it depends on some system parameters. Graphs and sensitivity analysis presented reveal the analytical results and accomplish that Configuration 3 is the optimal in terms of design, reliability physiognomies such as availability of the system, mean time to failure, profit and cost benefit. The study is beneficial to engineers, system designers, reliability personnel, maintenance managers, etc.