A reliability-based stochastic planning framework for AC-DC hybrid smart distribution systems

•Introducing a stochastic multi-objective planning model for AC-DC hybrid smart DSs.•Determining the optimal AC-DC network that optimizes both the DS costs and reliability.•The trade-off between the cost and reliability is evaluated using the Pareto optimality concept.•The benefits were verified through a comparison of the AC and hybrid Pareto fronts.•The AC-DC hybrid system achieved improvements in both the DS costs and reliability.