Induction of point defects in nanomaterials can bestow upon them entirely new physics or augment their pre-existing physical properties, thereby expanding their potential use in green energy technology. Predicting structure-property relationships for defects a priori is challenging, and developing methods for precise control of defect type, density, or structural distribution during synthesis is an even more formidable task. Hence, tuning the defect structure to tailor nanomaterials for enhanced device performance remains an underutilized tool in materials design. We review here the state of nanomaterial design through the lens of computational prediction of defect properties for green energy technology, and synthesis methods to control defect formation for optimal performance. We illustrate the efficacy of defect-focused approaches for refining nanomaterial physics by describing several specific applications where these techniques hold potential. Most notably, we focus on quantum dots for reabsorption-free solar windows and net-zero emission buildings, oxide cathodes for high energy density lithium-ion batteries and electric vehicles, and transition metal dichalcogenides for electrocatalytic green hydrogen production and carbon-free fuels.