The microgrid system with a high share of Renewable Energy Sources (RES), is the need of hour. The RES provides clean, economical and never-ending active power support to the system. However, the inertia deficiency is the negative side of RES based systems, as it adversely affects the dynamic performance of the microgrid and may lead to severe consequences like loss of synchronization and instability. For addressing the issue of inertia deficiency, several techniques were already proposed for emulating the virtual inertia. Among these, the Derivative Control Technique (DCT) is quite popular, because of its simplicity and effectiveness. The previous research work utilizes the Energy Storage System (ESS) for providing virtual inertia support through DCT during load imbalance. However, such a system neglects the possibility of extracting virtual inertia support obtained from RES. This paper proposes a novel technique for tapping the virtual inertia potential of RES (Photo Voltaic system), by cultivating the the derivative control mechanism and further improves the dynamic performance of the system. Further, the efficiency of the proposed system is evaluated through time-domain simulations under different scenarios and compare it with conventional and ESS based systems.