Privacy is of great importance for microgrids and has gained much attention recently. By eavesdropping on the communications among the devices, attackers may infer sensitive system operation information and user behavior due the intimate interplay between communication and control in mircogrids. In this paper, in order to facilitate simulational evaluations of privacy preservation techniques for microgrids, we develop a versatile cyber-physical co-simulator which integrates both networked communication and power system control subsystems as a whole. The co-simulator is built upon MATLAB/Simulink and OMNeT++ along with a module that coordinates the two tools in real-time simulations. Based on the co-simulator, we evaluates three privacy-preserving algorithms proposed in the literature, and find that SFPA performs better than PEMA and REP-CoDEMS in aspect of protecting the privacy of controllable inputs, but REP-CoDEMS and PEMA has a better performance considering both controllable inputs and uncontrollable inputs.