Resilience and economics of microgrids with PV, battery storage, and networked diesel generators

•The reliability and availability of emergency diesel generators, battery systems, and solar PV must be considered in assessing microgrid performance.•Current techno-economic approaches do not accurately estimate microgrid performance while islanded or fully calculate hybrid microgrid life cycle costs.•Hybrid microgrids provide a higher resilience and lower life cycle costs than diesel-only microgrids.