Microgrids deployment is primarily envisioned to meet the energy needs of remote areas due to inaccessibility of utility power. But, due to the recent globalization epoch, the rural and remote areas in the world are merging into urban communities and creating huge burden on the utility grid. Hence, the microgrids design focus has been shifting towards urban communities. Hybrid power systems are becoming a popular way in the design of microgrids by using locally available renewable energy sources (RES). This compensates the global depletion of conventional fossil fuel based utility grid energy. At this point of time, it is very important to examine the adoptability of those recent evolutions for a specific user location. With this intent, this paper presents various prospects in terms of challenges, opportunities, and techno-economic feasibility analysis for the integration of various RES to an existing urban building power system. The analysis is done by considering practical data of an enterprise building located in India. Various RES such as, photovoltaics, parabolic troughs, and wind energy are considered to form the microgrid. The simulation results increase the faith on the designed architecture by projecting an average cost savings of 27.55 %/day on the energy utilization with 5.97 years of return on investment. This analysis can be adoptable for any large scale urban community buildings such as financial districts, universities, residential greater communities, and industries. © 2015, Springer Science+Business Media Singapore.