High penetration photovoltaic integrated microgrid suffers from technical issues caused by the fluctuating power generation and power output, causing considerable impacts on system stability and power quality. In order to alleviate this, a hierarchical model predictive control technique combined with a battery health management scheme was put forward. The upper level achieves model predictive control for a horizon-ahead energy scheduling, whereas the lower level applied a online power compensator to regulate the rate effect. By assuming PV array, battery storage, and loads all have their dynamic models and taking account the costs of cyclic ageing into the optimizing objective, a cooperative control strategy is built and incorporating into a multi timescale controlling framework. After being simulated, for the severe irradiance change case, the standard deviation of grid interaction power fluctuation in our proposed strategy is 12.3kW, which is decreased by 57% compared to traditional PID control. The self-consumption ratio of PV power increases to 87.3%, and the average daily capacity degradation of battery is limited to 0.042%. For the load surge case, the peak of frequency deviation is declined to 0.15Hz, and the regulating time is shortened to 12s. Through this study, an effective technical scheme for the co-optimization of microgrid stability and equipments lifetime under the high renewable penetration is provided, which would effectively make the system on average to improve the overall operation performance.