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• The techno-economic analysis is carried-out for hybrid energy system for rural consumer. • Investigation of suitable storage technique is performed for optimal hybrid energy system. • The optimization and designing is performed for the four different domains. • The Feasibility valuation of standalone solar Photovoltaic/Wind Turbine hybrid energy system is performed for different locations in India. • A unique social and environmental aspect has been addressed. This article investigated an economical hybrid solution while meeting the residential community load for the best storage technology in the backward regions of India. In this way, the financial and technical aspects of standalone hybrid renewable energy system are analysed, considering the environmental benefits of standalone PV/WT/DG/BS configurations. Lead-Acid Flow (LAF) based technology is found suitable among considered battery-storage. The optimised Hybrid arrangement shows the lowest COE and NPC as 0.192 $/kWh and 1, 23,851 $. The Renewable fraction is found higher in optimal system 93.3%.In addition, the feasibility analysis of solar, wind, and diesel generator associated with Lead Acid Flow-based technology is performed for three different climate locations in Northern and Eastern India. The validation of an optimised hybrid energy system is performed for the rural locality's combined residential and agricultural load. The PDAV tool, interlinked with HOMER- Pro software, executes the renewable resource assessment. India's northern – Tarai region has been found most suitable for the optimised hybrid arrangement PV / WT / DG / LAF with the lowest COE (0.183 $/kWh) NPC (2, 33,276 $) and renewable fraction (94.9 %).The feasible optimised arrangement is further analysed for utilisation of excess produced energy to improve social parameters. The social parameters included here for the analysis with sensitivity analysis and energy balance for different seasons. [ABSTRACT FROM AUTHOR]