In this circumstance of global warming, energy market deregulation, and enormous load growth, distribution network entails a proficient strategy to maintain the reliability and efficiency of the power service. Incorporation of solar photovoltaic (PV) system and battery storage (BS) in coordination with distributed static compensator (DSTATCOM) is a competent and practical approach to alleviate the power quality and reliability concern. In this study, a comprehensive strategic model is presented to optimally deploy PV, BS, and DSTATCOM to maximise voltage profile improvement, reliability, economic, and ecological benefit of the network. An accurate and precise novel voltage profile improvement indicator namely network voltage profile improvement index is proposed. Benefit–cost ratio and environment benefit index are proposed to quantify economic and environmental benefits, respectively. Similarly, reliability indices such as expected energy not served are used to appraise the system reliability. A fuzzy based extended version of NSGA II is utilised for the optimal deployment of the devices considering security limits. The proposed method is tested on 33-bus and 69-bus distribution networks considering time variant practical load models and the obtained results validate the efficacy and efficiency of the proposed method when compared with other multi-objective algorithms.