Microgrids (MGs) have the potential to be self-sufficient, deregulated, and ecologically sustainable with the right management. Additionally, they reduce the load on the utility grid. However, given that they depend on unplanned environmental factors, these systems have an unstable generation capacity. Central power system failures have persisted as a result of the microgrids' instability. Microgrid technology integration at the load level has been the main focus of recent research in the field of microgrids. The conventional power grids are now obsolete since it is difficult to protect and operate numerous interconnected distributed generators. A proper investigation of microgrid architectures is presented in this work. This research also explores deep investigations for the improvement of concerns and challenges in various power converter topologies with the aid of control strategies and communication techniques. This in-depth research is aimed at upgrading the appropriate power converter configuration to enhance sustainable growth in power quality, stability, and control over power sharing.