Nanostructures and quantum dots have substantial effects on enhancing photovoltaic energy conversion efficiency, as evidenced in this comprehensive study. Materials that are nanostructured and nanosized particles are commonly used to address the urgent issues related to energy conversion. The use of nanostructured substances to address issues with energy and natural resources has garnered a lot of interest lately. Directional nanostructures in particular show promise for the conversion, collection, and storage of energy. Due to their unique properties, such as electrical conductivity, mechanical energy, and photoluminescence, quantum dots made from carbon (CQDs) and graphene quantum dots (GQDs) have been integrated into hybrid photovoltaic-thermoelectric systems (PV-TE). It evaluates the effects of nanostructures on solar energy technologies, in particular how they can improve power conversion and light absorption in solar cells. Optical light detectors, which transform photonic energy into signals that are electrical, are among the many optoelectronic uses of CQDs that have drawn attention because they are essential components of contemporary imaging and communication systems, such as visible light cameras, machine vision, medical X-ray and near-infrared image processing, and visible light detection devices. Besides supercapacitors, the study investigates how nanostructures could play a crucial role in contributing to addressing the global energy crisis sustainably, by working as photocatalysts for hydrogen synthesis and supercapacitors.