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Looking at IAM & Admin --> Quotas it seems I can have up to 5 instances.
According to the FAQ:
Google Compute Engine and Google Cloud Storage are eligible for Always Free in us-east1, us-west1, and us-central1 regions.
Does it mean we could use five f1.micro instances for free per month?
Thanks,
Navi Aujla (Google Cloud Support)
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Sep 4, 2017, 12:23:12 PM9/4/17
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Hello Houman,
As verified the screenshot you provided. The quota "Google compute engine API/Network" represents the number of VPC networks [1], you can create in your project.
For always free, "The usage limits are for all three regions combined" [2] i.e us-east1, us-west1, and us-central1. Under always free, you are eligible to run one f1-micro instance per month(US regions only, excluding Northern Virginia). For the complete list of always free usage limits, please refer to this public documentation link[3].