Perovskite materials, generally in the form of ABX \(_3\) , are promising candidates for next-generation energy storage and efficiency applications. This chapter presents an in-depth investigation of perovskite structures, synthetic routes, and their novel properties. It examines single-and multi-component perovskites from structural, optical, dielectric, magnetic, and multiferroic perspectives. Methods for the preparation of various types of perovskites using solid-state reactions, sol–gel, and hydrothermal methods are presented, and their effects on material properties are described. This chapter explains the use of perovskites in energy technologies, particularly photovoltaics, optoelectronics, and sensors, and highlights their potential for energy storage and conservation. Although there has been impressive progress in perovskite-based technologies, such as the rapid increase in solar cell efficiency, challenges such as material instability and environmental concerns due to lead-based perovskites have also been studied. This chapter provides a comprehensive overview of the role of perovskites in tackling global energy problems and summarizes the research required to address existing problems, thereby driving the development of future energy technologies.