A hybrid solar thermal and photovoltaic power generation system with a pumped thermal storage system with a mode switchable heat pump/heat engine apparatus realizes utility scale stabilized power generation with low cost thermal storage, ultra-high conversion efficiency with hybrid solar thermal and photovoltaic cogeneration system, and low capital cost with the mode switchable heat pump/heat engine apparatus. The present system heat, cool, and supply power to buildings simultaneously over the four seasons. The synergistically combination of the hybrid solar thermal and photovoltaic cogeneration and the pumped thermal storage of the present invention is to make a transformative change of power supply landscape.