This thesis presents the modeling and analysis of the stand-alone microgrid model for island power system. The stand-alone microgrid includes various distributed generators (DGs) and energy storage systems (ESSs) such as photovoltaic (PV) system, battery energy storage system (BESS), and etc. These units are commonly the electronically-interfaced sources. And, they has different characteristic depending on primary parts. To apply these characteristics, the detailed model of PV systems and BESSs are developed and its performance is evaluated by simulation. And, the stand-alone microgrid simulation model for island power system is developed based on the practical data. The operational characteristics of stand-alone microgrid are analyzed using the simulation model. Also, this paper presents a study of inertia-free stand-alone (IFSA) microgrid. This system has the only converter-based-generators (CBGs). Since the system inertia becomes zero, the stability of IFSA microgrid has to be supported using proper control method. To evaluate the stability of IFSA microgrid in accordance with the control method, IFSA microgrid model is developed and analyzed using real time digital simulator (RTDS).