The need for hot water in residential buildings requires a significant energy potential. Therefore, an efficient water heating system is important to achieve the goal of saving high-grade energy. The most simple and cheapest solar water heater is a flat plate solar collector (FPSC), which can increase the thermal energy of fluid by absorbing solar radiation. The performance of FPSC is comparatively low due to the dilute nature of solar insolation. Therefore, advancement of FPSC is being undertaken to improve the performance and achieve size reduction. In past, several techniques have been exploited to improve the performance of FPSC, which are presented in the present paper. These techniques include surface modifications, use of nanofluids, solar selective coating, and applications of a mini/macro channel, heat pipe, and vacuum around absorber. Surface modification on the absorber/absorber tube techniques are exploited to transfer the maximum possible solar energy to working fluids by increasing the heat transfer rate. Insertion of wire mesh, coil, and twisted tapes in the flow has great potential to increase the Nusselt number by 460% at the expense of a large pressure drop. Selective coating of Cu0.44 Ti0.44 Mn0.84 helps to absorb up to 97.4% of the incident solar energy, which is more significant. Many nanofluids have been exploited as heat transfer fluids, as they not only increase the performance but also reduce the fluid inventory. So, these techniques play a very prominent role in the performance of FPSC, which are discussed in detail. Summaries of the results are presented and recommendations proposed.