Organometal halide perovskites have recently attracted tremendous attention due to their potential for photovoltaic applications, and they are also considered as promising materials in light emitting devices. In particular, in the last years promising photovoltaic devices with efficiencies above 20% have already been prepared using organometal halide perovskites as absorbent materials. A planar heterojunction perovskite-based solar cell is made of three main layers sandwiched between the two conducting electrodes. The standard design for a planar heterojunction perovskite-based solar cell is: Back electrode/ Hole Transport Material (HTM)/ Perovskite absorber / Electron Transport Material (ETM) / Transparent electrode. For planar heterojunction-based solar cells, recent efforts have revealed that increasing conductivity of the hole transport materials by doping and optimizing charge collection by adjusting the absorber thickness could bring a positive impact on the efficiency. Electron transporting materials are also a crucial component in perovskite-based solar cells. The effect of different electron transporting materials in the final behaviour of the PV device can also be numerically simulated. Several PV parameters such as thicknesses of the absorber, HTM and ETM, respectively can be optimized by simulation methods and subsequently implemented by experimentalists. The hole mobility and acceptor concentration of the HTM, interface trap density and work-function of back contact metal have shown significant influence on the device performance. Even with these strong merits, enhancement of hole mobility and conductivity of HTM, stability of perovskite and TiO 2 and replacement of toxic lead are still crucial. Through suitable processing/synthesizing of the perovskite absorbers, best engineering the selective contact, and increasing conductivity of HTM and ETM will boost the stability as well as performance of the device. This chapter presents a review of the evolution of perovskite materials from their discovery to their present significance as the main constituent of a new class of photovoltaic devices. We also evaluate the use of numerical simulation methods for determining the optimal configuration of perovskite-based solar cells and analyzing their optoelectronic behavior. The outcome of a simulation study on organometal halide perovskite focusing on the role of the different components of the solar cell using Solar Cell Capacitance Simulator as a simulation tool are discussed. A photoconversion efficiency of 22.7%, V OC =