Deploying renewable energy systems (RES) to supply electricity faces many challenges related to cost and the variability of the renewable resources. One possible solution to these challenges is to hybridize RES with conventional power systems and include energy storage units. In this study, the feasibility analysis of a grid-connected photovoltaic (PV)-wind-battery hybrid system is presented as a microgrid for a university campus-scale community on a Mediterranean island. Models for PV and wind turbine systems are presented to estimate energy production, and net present cost (NPC) and levelized cost of electricity (LCOE) are used as economic metrics. A parametric study is performed with hourly time-steps to determine the sizes of energy generation and storage units to minimize the NPC for a small community as the case study. Two alternate configurations with and without storage are proposed. In both cases, the resulting LCOE is 0.15 USD/kWh while the current electricity tariff for the analyzed location was 0.175 USD/kWh in 2015. This lower unit cost of electricity leads to a lower NPC considering a 25-year lifetime. Different estimated and measured solar irradiance and wind speed data sets are used to evaluate the performance of the designed microgrid. Sensitivity analysis on different available weather data sets shows that the uncertainty in wind resource estimations is much higher than the uncertainty in solar resource estimations. Moreover, the results show that solar and wind resources could be utilized synergistically for the studied location.