According to increasing growth of DC loads, DC microgrids (MGs) have an effective role in future power systems. Improvement of power management is one of the important issues in DC MGs. In this paper, in order to provide an accurate power management in standalone low-voltage DC (LVDC) MG, including photovoltaics (PVs) and battery energy storage systems (BESSs), an AC component is superimposed to the output voltage of DC-DC converters by inspecting the frequency droop control of the synchronous generators. In addition, two corrective terms based on the calculation of AC active and reactive powers are added to this AC component, which is named improved frequency droop method (IFDM). Different operating modes for PV system comprising maximum power point tracking (MPPT) and voltage control mode (VCM); and BESS consisting of charge, discharge, and idle are considered in the proposed power management scheme based on the state of charge (SoC) of local BESS. On the other hand, the conventional proportional-integral (PI) controllers in DC-DC converters' control structure present poor transient dynamic performance and low loading level. Hence, fractional order PI (FOPI) controllers are designed by optimization of integral time absolute error (ITAE) criteria. The effectiveness of the proposed FOPI controllers combined with IFDM scheme is evaluated by simulations conducted in MATLAB/SIMULINK software. The FOPI-IFDM approach provides accurate current sharing and better voltage regulation without dependence on communication link in comparison with PI-IFDM under load, line impedance, and solar irradiance variations.