Kinetic rates of energy production are extremely controlled by the competing processes that occur in systems capable of energy transfer. Besides organic and inorganic compounds already known as electronically actives, supramolecular systems can be thought to form energy transfer complexes to efficiently convert, for instance, light into electricity and the mechanisms for that can be of any kind. Photophysical and photochemical processes can simultaneously occur in such systems to provide energy conversion, by competing mechanisms or collaborative ones. Thus, to investigate the kinetic rates of each process and to understand the dynamics of the electronic excited states population and depopulation in strategically structured materials, can offer important tools to efficiently make use of this not always so evident power of supramolecular materials. In this chapter, we present the state-of-the-art of the use of photophysical processes and photochemical changes, presented by new materials and devices to provide a control of energy transfer processes and enable distinct applications, since energy conversion to sensing and imaging techniques to material characterization.