Techno-economic assessment is presented of using hybrid renewable energy system of wind turbine and photovoltaic (PV) panels for hydrogen production and storage at different climate conditions of five different Egyptian cities. The water electrolyzer and compressor for hydrogen production and storage are driven by electricity produced from real PV panels and wind turbines. A transient mathematical model of the overall system is presented and solved using MATLAB/Simulink. The system performance is examined in terms of energy storage, system efficiency, and cost. Results reveal that the annual produced electricity equals 84,096, 107,285, 104,761, 69,836.5, and 118,115 kWh for Cairo, Aswan, Asyout, El Arish, and Mersa Matruh, respectively. PV panels and wind turbines are suitable for hydrogen production for the studied cities, except El Arish where the wind turbine is not recommended. In addition, the compressor consumes about 3.13% to 3.3% of the produced electricity from the PV/wind system. The annual hydrogen production reaches 1,972 kg for Mersa Matruh, 1,795 kg for Aswan, 1,749 kg for Asyout, 1,418 kg for Cairo, and 1,196 kg for El Arish. Finally, the overall system efficiency and production cost range from 7.69% to 9.37% and from 4.54 $/kg to 7.48 $/kg, respectively.