Abstract Nowadays, Energy Efficiency as a strategic energy policy has been extended to handle the power system either in demand-side or supply-side affecting the proficiency of the grid. On the other hand, the penetration rates of green resources as PhotoVoltaic (PV) system and Vehicle to Grid (V2G) technologies and; Demand Response (DR) resources as virtual resources have been extremely expanded in the smart power system. Accordingly, in this paper, a novel concept of energy efficiency form economic aspect in presence of Green Virtual Resources (GVRs) will be presented while an economic model for Energy Efficiency Programs (EEPs) is nominated. Therefore, an economic efficiency maximization model of energy management in a Micro Grid (MG) is suggested based upon the difference of revenues and financial burden; whereas the optimal sitting and sizing of GVRs are determined. Furthermore, three multifarious techno economic coefficients including Economic Efficiency Index (EEI), Technical Efficiency Index (TEI) and Total Technical Efficiency Index (TTEI) are nominated to evaluate the impact of GVRs in efficiency improvement of the MG. To evaluate the capability of GVRs, the standard 33-bus IEEE distribution system is conducted. Results indicate that by selecting proper location and size of GVRs, significant improvement is obtained.