The world's energy demand is growing fast because of population explosion and technological advancements. It is therefore important to go for reliable, cost-effective, and everlasting renewable energy sources for energy demand arising in the future. Solar energy, among other renewable sources of energy, is a promising and freely available energy source for managing long-term issues in an energy crisis. The solar industry is developing steadily all over the world because of the high demand for energy while major energy source, fossil fuel, is limited and other sources are expensive. It has become a tool to develop the economic status of developing countries and to sustain the lives of many underprivileged people as it is now cost-effective after long aggressive research is done to expedite its development. The solar industry would definitely be the best option for future energy demand since it is superior in terms of availability, cost-effectiveness, accessibility, capacity, and efficiency compared to other renewable energy sources. This paper, therefore, discusses the need for the solar industry with its fundamental concepts, worlds energy scenario, highlights of researches done to upgrade the solar industry, its potential applications, and barriers for the better solar industry in the future in order to resolve the energy crisis.

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