This paper presents the use of a novel approach in assessing the generation reliability of a hybrid mini-grid system (HMS) based on the optimal design result obtained from the HOMER software. A typical Nigerian rural community - Lade II in Kwara State was used as a case study where the energy demand for the residential and commercial loads was 2.5MWh/day and 171kWh/day respectively. The optimized HMS results from HOMER comprising of a solar photovoltaic (PV) array (1.5MW), diesel generators (350kW) and battery storage (1200 units) has a combined least net present cost of $4,909,206 and a levelized electricity tariff of $0.396 per kWh. Contrasting the HMS with a diesel-only system for the community, an approximate 97% reduction in all pollutant emissions was observed. Furthermore, fluctuations in diesel fuel prices, variations in average solar insolation, and variations in the solar PV's capital/replacement costs were utilized in conducting a sensitivity analysis for the HMS. The capacity outage probability table (COPT) was utilized in validating the reliability of the simulation results obtained from HOMER. The HMS was observed to experience a load loss of 0.769MW, 0.594MW & 0.419MW when zero, one and two diesel generator(s) respectively were operational for all of the Solar PV's and Batteries being off-line. The loss of load probability (LOLP), loss of load expectation (LOLE), and total expected load loss (ELL) obtained from the COPT were 5.76 × 10, 5.0457 × 10 hr/yr and 0.025344Watt respectively. The results show the reliability of the HMS and also depicts a highly economical and feasible hybrid energy system.