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Nanoparticles have been thoroughly investigated in the last few decades because they have many beneficial and functional qualities. Their capability to enhance and manipulate light absorption, thermal conductivity, and heat transfer efficiency has attracted significant research attention. This systematic and comprehensive work is a critical review of research on the photothermal energy conversion performance of various nanofluids as well as the recent advances in several engineering applications. Different nanofluids used in the photothermal energy conversion process were compared to identify the suitable applications of each nanofluid in thermal systems. An analysis of the previous investigations based on experimental and numerical studies has established that nanomaterials have the potential to increase the efficiency of solar thermal systems.

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