This paper thoroughly analyses energy, economic and environmental (3E) performance of using different battery (BAT) energy storage system like lead acid battery (LAB), lithium-ion battery (LIB), vanadium redox flow (VRF) battery and mechanical energy storage (MES) like flywheel and pumped hydro storage (PHS) using three different dispatch strategies (DS) such as cycle charging (CC), load following (LF) and generator order (GO), respectively. Andaman and Nicobar(A&N) Island of India have no main grid. Hybrid Optimization Model for Electric Renewable (HOMER) Pro software is used to study feasibility of power generation using various sources. Study incorporating tidal plant with wind turbine and Bio-DG in micro grid is considered first time for an Indian scenario as per authors’ knowledge with application of various DS and energy storage technologies. The superiority of LIB over LAB and MES is proved in this study. Wind/Bio-DG /tidal/LIB have relatively least net present cost(NPC), cost of energy (COE) of $1.30M and $0.263, respectively among five energy storage devices using CC dispatch strategy compared to other two strategies. It is investigated that LIB uses only 250 units of batteries, which is 46% less than total utilized LAB units for catering same load. In terms of expected lifespan, energy losses, energy production and state of charge (SOC), performance of LIB are superior to LAB. SWOT and sensitivity analysis have been performed considering fuel price and wind speed. Different techno economic indicators like cost summary, cash flow, fuel summary, economics, electrical parameters, renewable fraction (RF), return of investment (ROI), lowest simple payback period, internal rate of return (IRR), pollutant emission are considered and compared with each other for LAB and LIB combinations.