The power electronics industry is undergoing a revolution driven by an industry 4.0 perspective, with smart and green/hybrid energy management systems being the requirement of the future. There is a need to highlight the potential of fractional order control in power electronics for the highly efficient systems of tomorrow. This paper reviews the developments in fractional order control in power electronics ranging from stand-alone power converters, industrial drives and electric vehicles to renewable energy systems and management in smart grids and microgrids. Various controllers used in power electronics such as the fractional order PI/PID (FOPI/FOPID) and fractional-order sliding mode controllers have been discussed in detail. This review indicates that the plug-and-play type of intelligent fractional order systems needs to be developed for our sustainable future. The review also points out that there is tremendous scope for the design of modular fractional-order intelligent controllers. Such controllers can be embedded into power converters, resulting in smart power electronic systems that contribute to the faster and greener implementation of industry 4.0 standards. INDEX TERMS Fractional calculus, power electronic converters, fractional order control, industrial drives, electric vehicles, renewable energy applications, smart grids and microgrids, industry 4.0.