AbstractRecently, modern power systems depend heavily on MicroGrids (MGs), which can accommodate Distributed Energy Resources (DERs) economically and with high flexibility. MGs integrated with DERs can assist in enhancing energy security, significant cost savings, and reduction in emission of greenhouse gases. In this paper, the assessment of operating performance of proposed MG system with DERs is employed to investigate the multi‐objective problems of cost optimization and economic scheduling. A grid‐connected Micro‐grid (MG) combined with solar photovoltaic (PV), wind turbine (WT), fuel cell (FC), and Battery Energy Storage System (BESS) is implemented to model the problem. This proposed model is considered as a test system for cost optimization and battery charging/discharging optimization. The developed framework is presented as multi‐objective function with constraints that can be tackled using an effective optimization technique. The above stochastic multi‐objective problem is optimized using various commonly used Physics based Meta‐heuristic techniques such as Simulated Annealing (SA), Harmony Search (HS), Slime Mold Algorithm (SMA), Gravitational Search Algorithm (GSA), Black Hole Optimization (BHO), Sine Cosine Algorithm (SCA), Multiverse optimization (MVO) and Lightning Search Algorithm (LSA). The assessment of the aforementioned physics‐based optimization techniques used on the proposed MG test system is compared using the results. According to the analysis, Black Hole Optimization (BHO) and Lightning Search Algorithm (LSA) both provide greater cost savings overall and for battery charging, respectively. The suggested optimization methods will take the BESS charging/discharging pattern and total cost savings into account.