Multi-source optimized microgrids are gaining widespread recognition among researchers as they offer a cost-effective solution in unelectrified or under-electrified areas. Adoption, planning, and scheduling of distributed generators play a pivotal role in the techno-economic aspects of microgrids. Thus, it is imperative to perform a techno-economic analysis of an integrated multi-source optimized microgrid. In this article, the feasibility of deploying alternate sources was initially determined, then a techno-economic analysis was conducted to validate the feasibility of integrating multiple energy sources with a micro-grid. A total of ten distinct microgrid scenarios were simulated having the a number of distributed energy resources – solar PV, wind power, diesel generator, advanced grid, and lithium-ion batteries as energy storage devices (ESDs) in various configurations. It was concluded that significant benefits in terms of economic parameters, such as cost of electricity (COE), total net present cost (NPC), capital and operational costs, net grid sales, system emissions, annual fuel consumption, and renewable fraction could be obtained from the optimal system. In addition, the results demonstrated a reduction in the cost of electricity by 4.4%, thereby contributing to the effectiveness of the proposed scheme.