In recent times, the significance of renewable energy generation has increased and photovoltaic-thermoelectric (PV-TE) technologies have emerged as a promising solution. However, the incorporation of these technologies still faces difficulties in energy storage and optimization. This review paper addresses these challenges by providing a comprehensive overview of the latest advancements in PV-TE technologies. The paper emphasizes the integration of phase change materials (PCMs) for thermal energy storage, also buttressing the use of encapsulated PCM for thermal storage and efficiency, and the use of hybrid PCM to enhance overall performance. Furthermore, reviews on the use of machine learning techniques for efficient optimization and the integration of thermoelectric modules into tandem perovskite silicon solar cells have been comprehensively analyzed. The advancements in photovoltaic-thermoelectric systems, as reviewed in this article, signify significant progress in attaining sustainable and effective energy production and storage. This review comprehensively addresses the 4Es, underlining their importance. It not only consolidates recent developments but also charts a path for future research in the field of PV-TE technologies, offering precise insights to guide upcoming studies and innovations.