Compact PV/CSP hybrid systems, based on the integration of both PV and CSP technologies within a single power plant, have been attracting interest in recent years, because of their potential to lower the cost of solar electricity and minimize the land footprint required. However, the objective evaluation of these technologies is complicated by the fact that they involve two separate converters, each delivering a different form of energy (dispatchable for CSP, non-dispatchable for PV). We propose here an original evaluation and optimization approach based on 3 techno-economic indicators quantifying (1) the overall conversion efficiency of these systems compared to their standalone CSP counterparts, (2) the energy production balance between PV and CSP, and (3) the extra manufacturing cost compared to standalone CSP systems. These different indicators are evaluated for two families of hybrid systems (PV Topping and PV Mirror) and for 3 geometries of concentrating optics (Linear Fresnel Lenses, Parabolic Troughs and Solar Towers). One originality of our approach lies in its ability to determine the optoelectronic properties of PV cells likely to lead to the best hybrid performance, taking into account whether or not they are able to reach their own theoretical limits. Another original feature is that the hybrid systems considered in our analysis are compared with CSP equivalents which have been independently optimized. It is shown that the integration of realistic solar cell technologies whose performances deviate significantly from their theoretical limits notably restricts the range of operating conditions for which hybrid systems could outperform their standalone CSP counterparts. We conclude this work by discussing a number of key challenges that need to be overcome in order to develop more competitive and efficient hybrid systems.