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Remote regions where diesel-based electricity generation happens to be sole mean for power - is making severely negative impact through Greenhouse gas (GHG) emission as well as lack of financial feasibility of the system. Thus, this study presents a feasibility analysis from economic and environmental perspectives of entirely renewable energy (RE) sources based (solar and wind) standalone hybrid microgrid. Different combinations of RE sources examined for minimal GHG emission and financial viability under two circumstances - with and without considering a set of vital system constraints. Optimized participations of RE sources in hybrid microgrid architecture are found that resulted in maximum GHG emission reduction along with reducing reliance upon diesel generators at isolated chosen site. The study justifies solar and wind resources incorporating hybrid microgrid in terms of economic valuations …