Power to gas (P2G) uses electrical energy from access renewable power and captured carbon dioxide (CO2) to generate methane (CH4). The technology provides opportunity for replacing fossil fuels with green-powered hydrocarbon, benefiting the reducing of carbon emission. However, the methanation process in P2G requires high H2/CO2 ratio with available amount of hydrogen (H2) restricted by fluctuation of renewable power, bringing limits to the reusing of captured CO2. This paper presents a feasibility analysis of a novel wind/P2G/SOFC/GT multi-energy system (MES) for microgrid. Green-powered CH4 generated from P2G is mixed with captured CO2, bringing additional flexibility to balancing the overall H2/CO2 ratio for utilization. To comprehensively analyze the feasibility of synthesis CH4/CO2 fuel, evaluation of MES is carried out from both design and off-design conditions. For the design condition, a methodology of C-H-O elemental ternary analysis is applied to reflect the process of fuel utilization and reveal its connection with the trade-off feature of multiple components. For the off-design condition, fluctuations of user's load and renewable source during winter and summer scenarios are considered in a case study. Results show that under C-H-O distribution of 5.8 %, 61.2 % and 33.0 %, the SOFC/GT could operate safety with electrical efficiency of 62 %, capable of participating as a secondary power source for MES. Meanwhile, the overall H2/CO2 utilization ratio of the system is reduced from 4:1 to 2.4:1, where extremes conditions during winter and summer scenarios are evaluated with renewable penetration level of 94 % and wind curtailment rate below 5 % reached.