Non-deferrable loads equipped with distributed energy resources, such as solar photovoltaic generation and energy storage, can offer a wide range of benefits to the power system, including load leveling, hedging against forecast uncertainty, and ancillary services. This paper presents a techno-economic approach to optimally equip a flexible energy resource, namely a battery energy storage system (BESS), with non-deferrable loads for capacity enhancement of a distribution grid. The proposed approach is generic in applicability, and includes two different optimization mathematical models. The first model quantifies the needed flexibility with non-deferrable loads, based on a consideration of distribution grid limitations, while the second model determines the optimal flexibility amount associated with non-deferrable loads considering investor profitability. Thereafter, a distribution operations model is developed to evaluate the impact of non-deferrable loads, equipped with an optimal size of BESS, on the distribution system loading capacity. An example of non-deferrable loads considered in this paper is that of the rapid charging loads of plug-in electric vehicles (PEVs) that cannot be controlled or shifted due to the short stay of PEVs at a charging facility. Hence, a probabilistic model for PEV rapid charging loads is first developed. Case studies and simulation findings, considering a 32-bus distribution system, demonstrate that the proposed approach helps reduces the impact of non-deferrable loads on a distribution system and enhances the system power margin, which defers the need for system upgrades.