Harvesting fossil fuel-based electrical energy generation due to their limited availability and the production of greenhouse gas has led the world towards renewable energy-based electrical energy generation. Wind and solar are considered for energy conversion because of their easy availability among all other sources. In this work, an adaptive power management algorithm is developed for a multi-source dc microgrid system. The proposed algorithm is tested with a dc microgrid system consisting of solar photovoltaic, wind, battery, supercapacitor, and variable load. The PV and wind energy systems are operated in maximum power point tracking mode to extract maximum energy from the available wind power and solar irradiation. The proposed algorithm has considered environmental weather conditions like zero wind velocity, zero solar irradiation, wind gust, and dynamic load change at the dc bus. In all these cases, the proposed algorithm maintains the dc bus voltage constant without a communication link. The efficacy of the proposed algorithm is tested using MATLAB-Simulink. Also, the feasibility and effectiveness of the proposed algorithm are validated using OPAL-RT control platform-based studies.