Pavement photovoltaic (PV) is an innovative energy-harvesting technology that seamlessly integrates into road surfaces, merging established PV power generation methods with conventional roadway infrastructure. This fusion optimally utilizes the extensive spatial assets inherent in road networks. This paper offers an exhaustive examination of the literature concerning the physical models and performance evaluation of photovoltaic pavements. This study delineates the essential three-tier structure of pavement modules and juxtaposes the advantages and drawbacks of design models across these strata, thereby facilitating the development of more suitable solutions for varying application scenarios. The importance of accommodating fluctuations in shadows and countering the heat island effect (HIE) is emphasized. Nevertheless, the technology remains in its nascent research phase, characterized by challenges associated with limited long-term durability and efficacy. Building upon these findings, this study addresses the challenges confronting pavement PV from three perspectives and outlines future prospects and recommendations for its progression.