This paper explores yttrium and copper co-doped cobalt ferrite [Co1-xCuxFe1.85Y0.15O4] synthesized via the sol-gel auto combustion route (0.0 ≤ x ≤ 0.08). Investigating the impact of co-dopants on CoFe2O4, the study reveals altered cation distribution affecting structure, multiferroic, and electrical properties. XRD studies show nanocrystalline co-doped cobalt ferrites with lattice expansion and smaller grains due to Cu-Y co-doping. FTIR confirms inverse spinel family classification with tetrahedral lattice shrinkage. FESEM indicates a grain size of approximately 0.12 μm. Ferroelectric analysis reveals a peak saturation polarization of 23.42 μC/cm2 for 8% copper doping, attributed to increased Fe3+ ions at tetrahedral sites. Saturation magnetization peaks at 54.4706 emu/g for 2% Cu2+ ion substitution [Co0.98Cu0.02Fe1.85Y0.15O4] and decreases to 37.09 emu/g for 4% Cu substitution due to irregular iron atom distribution at tetrahedral sites. Dielectric studies uncover Maxwell-Wagner Polarization and high resistance in grain and grain boundaries using Impedance Spectroscopy. Fabricated hydroelectric cells exhibit improved ionic diffusion, suggesting potential applications.