Hmm that's a tricky one...
electricity travels best at higher voltages, so for 150m I would want to go for high voltage transmission (doubling the voltage reduces the cable losses by a factor of four for a given cable size - or, to put in another way: doubling the voltage allows you to 1/2 the cable size).
AC or DC? well taking the question in isolation; if it's 3 phase AC you need 3 wires in the cable, whereas for single phase AC and for DC you need two so where there's a choice of 3ph vs DC I'd go for DC; But AC is easier to convert voltage so if you're generating at low voltage AC, you may want to stick with AC and use transformers to step the volts up for transmission and then step down at the other end.
But the final answer rather depends on what sort of generator and battery/system you go for (the following answers assume the generator operates at less than 230v AC - if the generator produces >230VAC then transmit the power at the higher generator voltage):-
1) an off-grid system with batteries where you're using the power from the batteries directly (i.e. not using an inverter):
Try to generate at high voltage or step up to high voltage for transmission back to the house, then step down to charge the batteries at the house.
2) an on-grid system: connect the generator to a grid-tie inverter at the generator and use a 230v a.c transmission line back to the house.
3) an off grid system with batteries using an inverter to supply loads in the house:
3A) If the hydro is the only source of power then I'd site the batteries & inverter at the generator (and you can use a low volts genny to charge the batteries directly) and transmit the power back to the house as 230v AC from the inverter.
3B) If you have other sources such as wind or solar (which are likely best sited in different locations than the hydro turbine) then I'd site the batteries and inverter and the central hub (house) but connect the hydro (and other remote sources) using grid tie inverters, transmitting at 230v AC (many of the good off-grid inverters will accept being back-fed by a grid-tie inverter). Although this option is getting more costly in terms of all the inverters and battery, etc.
hope that makes sense.