A wind turbine rotor blade, based on the U.S. National Renewable Energy Laboratory (NREL) 5 MW reference turbine, is optimized for minimum cost of energy through simultaneous consideration of aerodynamics and bend-twist coupling. Eighty-three total design variables are considered, encompassing airfoil shapes, chord and twist distributions, and the degree of bend-twist coupling in the blade. A recently developed method requiring significantly less computation than finite element analysis is used for planning and predicting the bend-twist coupling behavior of the rotor. Airfoil performance is computed using XFOIL, while the wind turbine loads and performance are computed using the NREL FAST code. The objective function is annual cost of energy (COE), where reductions in flapwise bending loads and blade surface area are assumed to decrease rotor cost through reduced material requirements. The developed optimization process projects decreased blade loads while maintaining wind turbine performance.