This research delves into the techno-economic-environmental feasibility and optimal unit sizing of various hybrid power sources for a standalone microgrid serving a remote educational institution in Gujarat, India. Central to the investigation is the adoption of a load-following dispatch strategy to effectively balance energy supply and demand. The study explores different combinations of standalone hybrid sources, including Solar PV, Diesel Generators (DG), and Li-Ion Battery microgrid systems, strategically optimized to meet the institution's energy requirements. Furthermore, the research meticulously examines the overall costs and viability of the hybrid system. Among the studied configurations, the Hybrid PV-DG-Battery standalone microgrid emerges as the most feasible system. It is found to have a Net Present Cost (NPC) of $714,556 and a Cost of Energy (COE) of $0.899 per kWh. Additionally, the Hybrid PV-DG-Battery standalone microgrid exhibits the highest environmental responsiveness compared to other configurations, with the lowest CO2 emissions estimated at 3,356 kg per year.