The ever-increasing energy demand and the shortage of fossil fuels force the researchers to do research on utilization and conversion of renewable energy sources. In Recent years, the graphene and Transition Metal Chalcogenide (TMC) based Phase Change material (PCM) have been reviewed towards the future energy storage and energy conversion. This PCM is considered as a promising pathway to alleviate the energy crisis. The TMC material is considered as an emerging material due to their optoelectronic behavior and stability of the material. Moreover, the integration of TMC with graphene, significantly improve the performance of the system. The storage of solar energy in the form of sensible and latent heat has become an important aspect of energy management. To improve the performance of domestic solar water heater system, the vertical spiral and cylindrical heat exchanger is designed. The spiral module and cylindrical modules filled with and without PCM are analyzed and the obtained results are compared with each other. The results show that the spiral and cylindrical heat exchanger filled with PCM store and release the thermal energy efficiently and it performs the desired functions than the without PCM module.