The increasing energy demand in the near future will force us to seek environmentally clean alternative
energy resources. The emergence of nanomaterials as the new building blocks to construct light energy
harvesting assemblies has opened up new ways to utilize renewable energy sources. This article discusses
three major ways to utilize nanostructures for the design of solar energy conversion devices: (i) Mimicking
photosynthesis with donor−acceptor molecular assemblies or clusters, (ii) semiconductor assisted photocatalysis
to produce fuels such as hydrogen, and (iii) nanostructure semiconductor based solar cells. This account
further highlights some of the recent developments in these areas and points out the factors that limit the
efficiency optimization. Strategies to employ ordered assemblies of semiconductor and metal nanoparticles,
inorganic-organic hybrid assemblies, and carbon nanostructures in the energy conversion schemes are also
discussed. Directing the future research efforts toward utilization of such tailored nanostructures or ordered
hybrid assemblies will play an important task in achieving the desired goal of cheap and efficient fuel production
(e.g., solar hydrogen production) or electricity (photochemical solar cells).