Following the latest trends in the research, development and promotion of clean energy technologies in order to solve serious problems of increased electricity consumption, greenhouse gases emissions, global warming and climate change, the Faculty of Technical Sciences in Novi Sad has designed the concept of microgrid based on application of different types of distributed energy resources. This paper presents the concept of the idea project of a faculty microgrid consisting of 2 photovoltaic power plants, 2 wind turbines, biogas microturbine for combined heat and power production, 2 electric vehicles as prosumers, battery energy storage system, microgrid microcontroller, interface for connecting the microgrid to the main distribution grid, and electricity consumers. In order to enable and ensure the stable operation of the microgrid in the island mode, the technical specifications of the energy devices, control devices and measuring equipment that have been installed and planned are also analyzed and presented. The paper presents a techno-economic and environmental analysis of the application of the faculty microgrid, with a special focus on the annual energy production, investment costs and avoided CO2 emissions realized through the use of proposed distributed energy sources.