Reference implementation of Digital Twins for electrical energy conversion systems is an important and open question in the industrial domain. Digital Twins can predict the future performance, behaviour, and maintenance needs of a complex system. Today the concept of Digital Twins is not only an emulation or simulation of the physical object along with its development history but also contains much information from the respective manufacturers and services. This paper presents the current stateoftheart of Digital Twins in relation to some interesting novel applications from different fields of electrical engineering. The objective of the paper is to give an overview of the successful application of Digital Twins in electrical energy conversion systems, such as industrial robotics and wind turbines; to discuss trends in applications like electric vehicles; and to suggest new applications, such as telescopes. Special attention is paid to the possible application of Digital Twins in faults diagnostics and prognostics of electrical energy conversion systems. Successful implementation of Digital Twins in any electrical energy conversion system diagnostics and prognostics allows for lowcost maintenance, higher utilization of the individual devices and systems, as well as lower usage of material and human resources. A SWOT analysis was performed for Digital Twin applications in electrical energy conversion systems. The latter is a useful analysis technique that explores possibilities for new achievements or solutions to existing problems and makes decisions about the best path.