Micro gas turbines ranging from 3 to 200 kW are vital for decentralized power generation due to their reliability, rapid load response, and adaptability to 100% hydrogen and hydrogen fuel blends. This paper conducts a techno-economic assessment of MGTs powered by hydrogen, focusing on their environmental, economic, and technical viability. Key factors include the transition from natural gas to hydrogen to achieve net-zero emissions and enhance grid stability. Despite hydrogen's higher initial costs, its declining production costs and cleaner combustion make it a promising alternative. The study utilizes five micro gas turbine models (3, 30, 65, 100, and 200 kW) to evaluate a techno-economic analysis using 100% hydrogen, a 30% hydrogen and 70% natural gas blend, and 100% natural gas as fuels. Technical results are supported by experimental data from the world's first 100% hydrogen-fired micro gas turbine unit in Stavanger, Norway. Standard cost estimations for capital, operation and maintenance, and fuel costs are provided. The study introduces a novel technique for cost estimation and assesses econometric indicators such as net present value, internal rate of return, return on investment, payback period, and cost-benefit analysis. It compares economic scenarios for 2024, 2030, and 2040, highlighting the impact of fuel price volatility and regulatory changes on micro gas turbine techno-economics. Micro gas turbines are ranked using the Technique for Order Preference by Similarity to Ideal Solution-Multi-Criteria Decision Making (TOPSIS-MCDM) method based on their techno-economic performance. The ranking of microturbines based on techno-economic analysis performance is a novel contribution of this paper. Finally, a sensitivity analysis on the five micro gas turbines is carried out by changing the hydrogen fuel price. This research provides a comprehensive framework for stakeholders to make informed investment decisions, ensuring a smooth transition to 100% hydrogen-based power generation. The findings support the adoption of hydrogen and natural gas blends as an interim solution towards achieving a hydrogen economy.