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With the rapid development of modern energy applications such as renewable energy, PV systems, electric vehicles, and smart grids, DC-DC converters have become the key component to meet strict industrial demands. More advanced converters are effective in minimizing switching losses and providing an efficient energy conversion; nonetheless, the main challenge is to provide a single converter that has all the required features to deliver efficient energy for different types of modern energy systems and energy storage system integrations. This paper reviews multilevel, bidirectional, and resonant converters with respect to their constructions, classifications, merits, demerits, combined topologies, applications, and challenges; practical recommendations were also made to deliver clear ideas of the recent challenges and limited capabilities of these three converters to guide society on improving and providing a new, efficient, and economic converter that meets the strict demands of modern energy system integrations. The needs of other industrial applications, as well as the number of used elements for size and weight reduction, were also considered to achieve a power circuit that can effectively address the identified limitations. In brief, integrated bidirectional resonant DC-DC converters and multilevel inverters are expected to be well suited and highly demanded in various applications in the near future. Due to their highlighted merits, more studies are necessary for achieving a perfect level of reducing losses and components.