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Abstract The utilization of fossil fuels for power generation results in the production of a greater quantity of pollutants and greenhouse gases, which exerts detrimental impacts on the ecosystem. A range of solar energy technologies can be employed to address forthcoming energy demands, concurrently mitigating pollution and protecting the world from global threats. This study critically reviewed all four generations of photovoltaic (PV) solar cells, focusing on fundamental concepts, material used, performance, operational principles, and cooling systems, along with their respective advantages and disadvantages. The manuscript analyzes various materials, including their performance, physical properties (electronic and optical), biodegradability, availability, cost, temperature stability, degradation rate, and other parameters. The sensible engineering of effective solar devices made of cutting -edge materials along with nanostructured ternary metal sulphides, and three-dimensional graphene are also briefly discussed which are more versatile, stable, thin and light weight with high performance as compare to third generation solar cells. The impact of material alterations is delineated in PV, where the efficiency of solar cell technology has improved from 4% to 47.1%. Further the research article deals with different internal and external stress factors affecting the solar PV module performance. more...