On the basis of its properties, ethanol has been identified as the most used biofuel because of its remarkable contribution in reducing emissions of carbon dioxide which are the source of greenhouse gas and prompt climate change or global warming worldwide. The use of ethanol as a new source of biofuel reduces the dependence on conventional gasoline, thus showing a decreasing pattern of production every year. This article contains an updated overview of recent developments in the new technologies and operations in ethanol production, such as the hydration of ethylene, biomass residue, lignocellulosic materials, fermentation, electrochemical reduction, dimethyl ether, reverse water gas shift, and catalytic hydrogenation reaction. An improvement in the catalytic hydrogenation of CO2 into ethanol needs extensive research to address the properties that need modification, such as physical, catalytic, and chemical upgrading. Overall, this assessment provides basic suggestions for improving ethanol synthesis as a source of renewable energy in the future.