This paper describes the operation analysis results of a communication-based DC micro-grid using a hardware simulator developed in the lab. The developed hardware simulator is composed of distributed generation devices such as wind power, photovoltaic power and fuel cells, and energy storage devices such as super-capacitors and batteries. Whole system monitoring and control was implemented using a personal computer. The power management scheme was implemented in a main controller based on a TMS320F28335 chip. The main controller is connected with the local controller in each of the distributed generator and energy storage devices through the communication link based on a CAN or an IEC61850. The operation analysis results using the developed hardware simulator confirm the ability of the DC micro-grid to supply the electric power to end users.