Power devices based on wide-bandgap (WBG) material such as silicon-carbide (SiC) can operate at higher switching speeds, higher voltages and higher temperatures compared to those based on silicon (Si) material. This paper highlights some opportunities brought by SiC devices in existing and emerging applications in terms of efficiency and power density improvement. While the opportunities are clear, there are also design challenges that must be met in order to realize their full potential. For example, the fast switching speeds and high dv/dt of SiC devices can cause increased electromagnetic interference (EMI), current overshoot, cross-talk effect and have a negative impact on loads such as motors. This paper presents several potential solutions to tackle the application challenges and to fully exploit the superior characteristics of SiC devices and converters while attenuating their negative side-effects. This paper provides an overview of recent SiC device research and development activities based on academic literature, work carried out by the authors and collaborators as well as input from industry. It aims to provide benchmark results and a timely and useful reference to accelerate the adoption and deployment of SiC devices and converters.