This manuscript introduces a highly efficient hybrid renewable energy system (HRES) that combines photovoltaic (PV) panels and wind turbines (WTs) as primary power sources, supplemented by three backup systems: batteries, hydrogen energy storage systems (HESSs), and supercapacitors (SCs). This system employs a multi-objective optimization algorithm to dynamically identify the best energy management system (EMS). The performance of the proposed EMS across different operational scenarios is assessed using seven distinct algorithms to identify the best solution, particularly emphasizing two main objective functions: operating cost and loss of power supply probability (LPSP). Furthermore, the study rigorously evaluates the performance of these algorithms against nine benchmarks to determine the most appropriate algorithm for the HRES under consideration. In the 1st scenario, power demand is met using both primary and backup energy sources. The honey badger algorithm (HBA) proved its cost-effectiveness and efficiency by achieving the lowest overall operating cost and the highest efficiency of 95.893 %. Additionally, its computation time was notably faster, being 70 s–488 s quicker than the other algorithms. The 2nd scenario arises when power demand exceeds the available generation capacity because of the charging limits of all energy storage systems (ESSs), which prevents them from providing power to the load. The HBA achieved the lowest cost and matched the highest efficiency score of 96.691 %. Furthermore, HBA provided the quickest optimization, completing the process 400 s–450 s faster than the other techniques. In the 3rd scenario, the generated power surpasses the current load demand, and the ESS components are fully charged therefore, the proposed EMS efficiently directs excess power to a dummy load, preventing overcharging of storage components and enhancing grid stability. The HBA consistently exceeded the performance of other algorithms, achieving the lowest average cost, maintaining the highest efficiency of 95.305 %, and solving the optimization problem 300 s–500 s faster than the alternatives. Consequently, these results highlight HBA's flexibility and effectiveness, positioning it as a reliable choice for optimizing energy systems across various operational scenarios.