This paper analyzes the concept of a decentralized power system based on wind energy and a pumped hydro storage system in a tall building. The system reacts to the current paradigm of power outage in Latin American countries caused by infrastructure limitations and climate change, while it fosters the penetration of renewable energy sources (RES) for a more diversified and secure electricity supply. An explicit methodology describes the assessment of technical, operational and economic potentials in a specific urban setting in Caracas/Venezuela. The suitability, applicability and the impacts generated by such power system are furthermore discussed at economic, social and technical level. (C) 2013 Elsevier Ltd. All rights reserved.