Abstract

This paper successfully reviewed the renewable energy trend from 2015 to 2023 based on investment, power conversion and future prospects. From the review it was observed that solar energy is progressively taking the lead as the cleanest energy generator followed by the wind turbine since 2019-2023. It also detailed the overview of solar photovoltaic technologies, photovoltaic conversion Efficiency Enhancement and the solar photovoltaic generations which showed that China is the most invested country in renewable energy followed by European union. From this paper it was clear that the renewable energy research trend has shifted to third-generation solar photovoltaic (perovskites) and power conversion efficiency enhancement (Maximum Power Point Tracking). Perovskites as the third generational solar cell give the best energy conversion due to their absorption coefficient, exceptional carrier mobility, high dielectric constant, tunable bandgap, and materials abundance and as such recommended for solar installers and other PV designers.