This thesis addresses the challenges of radial topology in distribution networks, characterized by unidirectional power flow, a high R/X ratio, poor voltage stability, and increased power losses. The primary objectives are to minimize both active and reactive power losses, enhance the voltage profile, and conduct a comparative techno-economic comparison between the Distribution Generator (DG) and Static Distribution Compensator (D-STATCOM). The BIBC–BCBV-Matrix-Based Direct Load Flow (DLF) method is utilized to estimate power loss and voltage profile. A Multi-Objective Function (MOF) is formulated by summing four single objective functions with appropriate weight factors. The proposed methodology employs three optimization algorithms Genetic Algorithm (GA), Particle Swarm Optimization (PSO), and Hybrid GA-PSO to determine the optimal size and location of DG/D-STATCOM. Evaluation of the optimization methods is conducted on the Bahir Dar Distribution Network R5-G3 (68 buses) feeder. The integration of D-STATCOM using GA, PSO, and GA-PSO significantly enhanced the minimum PU RMS voltage to 0.946, 0.952, and 0.959, respectively, compared to the minimum base case value of 0.877. Additionally, D-STATCOM lowered real power loss by 41%, 48%, and 61% using GA, PSO, and GA-PSO, and reactive power loss by 37%, 47%, and 60%, respectively. Similarly, the integration of DG improved the voltage to 0.949, 0.956, and 0.963 using GA, PSO, and GA-PSO, respectively. Real power losses are reduced by 42%, 53%, and 65% with DG using GA, PSO, and GA-PSO, and reactive power losses by 42%, 53%, and 65%, respectively. By combining the GA and PSO algorithms in a hybrid approach, the proposed GA-PSO method has demonstrated significant improvements compared to the GA and PSO. The economic analysis, as indicated by the device cost, cost saving, and payback period, provides insights into the financial feasibility of implementing each technology. Regarding economic performance, the GA-PSO algorithm indicated the lowest payback period (2.6 years) for D-STATCOM technology. These results collectively underscore the effectiveness of the proposed optimization techniques in addressing power loss and voltage profile challenges in radial distribution networks. Keywords: PV-DG, D-STATCOM, GA, PSO, Hybrid GA-PSO, Power loss reduction, Voltage profile improvement, Forward-Backward Sweep, BIBC-BCBV Matrix.