Microgrids are in transition from the laboratory to real-world deployment. The key driving factor includes the improvement in the technology used, a significant reduction in cost factor, well-established and proven results, and the increasing recognition of utility towards green and eco-friendly generation. The advantages of microgrid adoption range from resiliency, availability, scalability to diversity of generation. The current electric framework is starting to 'decentralize, decarbonize, and democratize' from top to bottom. The factors driving microgrid development and deployment towards in-site locations with existing electrical grid infrastructure fall into three sectors: Availability, Cost, and Clean Energy. The novelty of this work is to analyze the benefits of microgrids in extreme weather events that may cause brownout or backout events. This paper presents a post-mortem analysis of the Texas Grid Outage event. It investigates the advantages of a real-world test microgrid adoption to meet the resiliency benefits under extreme conditions. Besides resiliency, the work presents the benefits of microgrid participation in electricity markets during critical events.