Due to their outstanding optoelectronic properties, lead-based halide perovskite materials have been applied as efficient photoactive materials in solution-processed solar cells. Current record efficiencies offer the promise to surpass those of silicon solar cells. However, uncertainty about the potential toxicity of lead-based halide perovskite materials and their facile dissolution in water requires a search for new alternative perovskite-like materials. Thanks to the foresight of scientists and their experience in lead-based halide perovskite preparation, remarkable results have been obtained in a short period of time using lead-free perovskite compositions. However, the lower solar-to-energy conversion efficiency and long-term stability issues are serious drawbacks that hinder the potential progression of these materials. Here, we review and analyse strategies in the literature and the most promising solutions to identify the factors that limit the power conversion efficiency and long-term stability of lead-free tin-based perovskite solar cells. In the light of the current state-of-the-art, we offer perspectives for further developing these promising materials.