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• First time the solar-wind-biogas-VRFB integrated micrgrid is modeled and validated. • The capacity optimization and energy management with lowest LCOE is done by HOMER. • Peak load shaving with optimal sources and grid is shown by PSCAD using real data. • Optimal schedule of renewable sources and VRFB ensures zero LPSP at consumer end. • Financial study of hybrid microgrid demonstrates project viability and up scaling. Uninterrupted access to electric power has become the basic need of today's world. Rural parts of many countries still do not have access to electricity or have electric power access to weak distribution grids with inadequate transmission and distribution system infrastructure. However, the countries where there is an abundance of solar radiation, a good potential of bio-degradable waste and average availability of wind source, access to electricity for those remote areas can be managed by distributed power generation. Considering the fact that the renewable energy sources (Solar, Wind etc.) are intermittent in nature, battery energy storage systems (BESS) and other reservoirs like biogas energy sources are the potential candidates to be integrated with the renewable sources to ensure continuous access to electricity and energy security. In this paper, a unique combination of Solar PV, Wind, Biomass and Vanadium Redox Flow Battery (VRFB) storage integrated hybrid Microgrid has been modeled and implemented practically for the first time. The capacity selection of different renewable sources for satisfying daily energy demand and their techno-commercial optimization has been performed through HOMER simulation. Further, the peak load shaving that is a limitation of HOMER model, has been established through PSCAD simulation by providing the real life data of different renewable sources, VRFB storage and the load profile as input to the model. The simulation model performances have been validated by a practical 10 kW P solar PV, 1 kW wind and 15 kVA Biogas generator integrated with 1 kW 6 h VRFB storage based Microgrid installed at India Institute of Engineering Science and Technology campus, India. In addition to these, zero loss of power supply probability (LPSP) has been ensured by implementing smart scheduling and controller considering the intermittency of the renewable sources. As a part of the financial analysis, project Investment on Return (IRR) and pay back has been calculated considering initial investment, operation and maintenance cost and revenue of generation. [ABSTRACT FROM AUTHOR]