The advantages of microgrids in terms of transmission and distribution have significantly increased their popularity over the past decade. Despite notable progress, several questions persist, and issues related to microgrids must be addressed before full commercialization. Among these, two crucial aspects are the supply-demand gap and the efficiency of microgrids. Various research and development activities have yielded diverse microgrid solutions. To address the increasing power generation capability, adopting a strategic framework that can be utilized for perspective generation and associated loads, either as a subsystem or a microgrid, is essential. Microgrids incorporate various distributed generation technologies, including micro turbines, fuel cells, photovoltaic systems, wind turbines, and other advanced components such as batteries, capacitors, and flywheels. Efforts in research and development have resulted in a range of microgrid solutions that leverage these technologies.