Electricity market deregulation has opened the door for novel electricity production schemes within the existing central production paradigm that dominates the electricity power industry. The Microgrid concept allows generation and load located in close vicinity to be organized so that the local load is served as far as possible with local generation. The Microgrid examined in this thesis consists of both AC and DC network components connected using power converters.The varied Microgrid power sources (microturbine generators, PV, battery, power imports from the grid etc.) are scheduled over 24 hours to satisfy load demand at minimum cost and maximum reliability. Towards this end, a dual objective problem is formulated using Fuzzy sets and the final problem takes the form of a Mixed-Integer Nonlinear optimization problem. The interplay between the disparate objectives of minimum cost and maximum reliability and the battery is then examined.