Perovskite
solar cells (PVSCs) are the most promising candidates
in third-generation photovoltaic technologies with a certified efficiency
of 25.2% within the past decades. They attract increasing attention
owing to their ease of fabrication, cost-effectiveness, and lower
processing temperature when compared to commercial silicon-based solar
cells. However, some of the striking disadvantages including the low
stability, toxicity of the lead element, and hysteresis effect limit
the photovoltaic performances and commercialization of the PVSCs.
Furthermore, the insufficient utilization of the solar spectrum in
commonly used PVSCs due to the spectral mismatch between the solar
spectrum and the bandgap of the perovskite is an obstacle to improving
the efficiencies of PVSCs. In this regard, lanthanide-doped luminescent
materials are implemented in PVSCs for the conversion of a broad spectrum
of light into photons of resonant wavelengths through upconversion
(UC), downconversion (DC), and downshifting (DS) processes, which
are employed to decrement the losses in the energy conversion processes
of solar cells. Interestingly, the lanthanide-based UC/DC processes
facilitate improved sensitization, light scattering, and stability
in PVSCs. Moreover, the lanthanide ions are directly doped into transporting
layers for tuning the band alignment, which is an efficient way to
enhance the charge carrier transportation, and it is desirable to
enhance the power conversion efficiency (PCE) of devices. In this
review article, the insights for various UC and DC materials in PVSCs
are discussed. Finally, the challenges with emerging research directions
are mentioned for further developments of future luminescent-based
PVSCs, and some perspectives for future research are also presented.