WORLDWIDE electrical grids are undergoing an evolution, from traditional model of centralized generation, towards a smart decentralized architecture of distributed renewable sources and energy storages. This decentralized architecture brings reduced pollution and increased network efficiency and reliability. To handle the intermittent power generation and bidirectional power flows, the concept of grid-tied microgrid has been accepted to be the key to organize the distributed renewable sources and energy storages, which are interfaced with the microgrid through distributed power converters. Meanwhile, for increasing reliability, microgrids should be able to operate in standalone mode and disconnected from utility grid when utility fails. Under this circumstance, the microgrid bus voltage quality and the power sharing among these distributed power converters are crucial for the safe and reliable system operation. Besides, seamless transfer between grid-tied and standalone modes of microgrids is also significant in order to reduce the voltage or current spike and shorten the time during the mode transition. Furthermore, microgrids are prone to suffering transient and stability issues due to the interactions among multiple distributed power converters, and therefore stability study and stabilization control of microgrids have become a critical topic.