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Renewable energy sources, such as solar photovoltaic (PV) systems and battery energy storage systems (BESS), help reduce greenhouse gas emissions while fulfilling the world's growing energy demand. The inclusion of BESS reduces the peak hour demand, and control of charging and discharging of BESS can be economical for distributors facing time-based energy pricing. This paper discusses a novel multiobjective Horse herd optimisation algorithm (MOHHOA) approach, which is inspired by the social behaviour of horses in herds for PV and BESS optimal allocation in the radial distribution system. The proposed algorithm combines multiple benefits like benefits from economic gain per day, reduction in CO2 emission per day, and reduction in energy loss per day. IEEE 69-bus radial distribution system (RDS) is used for testing the suggested approach. The case studies and simulation results show that the suggested model effectively accommodated PV power generation in IEEE 69-bus RDS without violating any system constraints. Results indicate improvement in node voltage profiles, security margins and energy losses, and peak energy savings, and system characteristics as a whole, and there were significantly improved techno-economic performance of the distribution system. [ABSTRACT FROM AUTHOR]