Over the past few decades, many universities have turned to using microgrid systems because of their dependability, security, flexibility, and less reliance on the primary grid. Microgrids on campuses face challenges in the instability of power production due to meteorological conditions, as the output of renewable sources such as solar and wind power relies entirely on the weather and determining the optimal size of microgrids. Therefore, this paper comprehensively reviews the university campuses’ microgrids. Some renewable energy sources, such as geothermal (GE), wind turbine (WT), and photovoltaic (PV), are compared in terms of installation costs, availability, weather conditions, efficiency, environmental impact, and maintenance. Furthermore, a description of microgrid systems and their components, including distributed generation (DG), energy storage system (ESS), and microgrid load, is presented. As a result, the most common optimization models for analyzing the performance of campus microgrids are discussed. Hybrid microgrid system configurations are introduced and compared to find the optimal configuration in terms of energy production and flexibility. Therefore, configuration A (Hybrid PV- grid-connected) is the most common configuration compared to the others due to its simplicity and free-charge operation.