Herein, we reviewed the main components of dye-sensitized solar cells (DSSCs) which are an emerging cheap and environmentally benign alternative for solar energy capture and conversion to electricity. The role of individual parts such as the semiconductor electrode, counter electrode, photosensitizer, electrolyte, and substrate and their contribution to the overall efficiency (η) of DSSCs are discussed. In addition, parameters such as short circuit current, open circuit voltage, and fill factor used to quantify the efficiency of DSSCs are addressed. The highest solar-to-electric energy conversion efficiency of 13 % has been achieved using titanium dioxide as a semiconductor electrode, a triiodide system as a redox couple, and platinum counter electrodes. Semiconductors are made up of materials such as glass, carbon, conductive polymers and other metal oxides have lower efficiencies (< 8 %). In addition, synthetic photosensitizers especially ruthenium complexes have higher efficiencies (10-11 %) compared to natural dyes among which the highest efficiency (4.6 %) was achieved using chlorophyll. The performance of natural dyes based on efficiency of the DSSC is generally in the order: chlorophyll > anthocyanins > carotenoids that is highly attributed to their structure which not only dictates electron release and recombination but also attachment to other components. The DSSC performance is not fixed but rather tunable by variations in the components to achieve desired structural and electronic properties such as firm anchorage between the photosensitizer and the semiconductors, the reduction of the energy band gap by incorporation of other metal salts to extend the absorption range and use of additives that prevent electron recombination with the photosensitizer or any hindrances in the electrolyte redox reactions.