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Microgrids are emerging throughout the world as a means of integrating decentralized, renewable energy power generation. The flexibility of this customer-driven, behind the meter solution allows it to address unique challenges. This variability that drives microgrid adoption is the same thing that keeps them from being categorized and repeatable. This lack of specific modeling leads to a stalling in financing and wide-scale adoption. By analyzing the microgrid system development, evolution, architecture, integration zones, technological advances, and business models, a clearer picture of how these entities are intertwined emerges. Several case studies of deployed microgrids will showcase the cutting-edge solutions they apply. The future implications of this new energy revolution will be highlighted and shown to create an energy generation equilibrium and the significant role played by microgrids in this new energy revolution. Although many compilations of research work on microgrids have been previously presented by various reviewers, most of them are specific to an electrical or power quality-related issue, which addresses a discrete audience. This work only includes within its scope a general outlook of microgrids and the present-day challenges in its use of rural/urban renewable energy production and distribution. The results allowed for the researchers to conclude that microgrids have emerged as a great solution in situations where energy has to be transmitted from a decentralized system to a centralized system. Challenges will arise in the microgrid management and government laws and regulations if rectified microgrids can lead to an equilibrium between decentralized and centralized bulk energy networks.

Microgrid Emergence, Integration, and Influence on the Future Energy Generation Equilibrium—A Review