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One of the great technological challenges in the present century is the development of renewable energy technologies due to serious problems related with the production and use of energy. Nanotechnologies are considered as a promising area of research that provide an extensive range of resources to resolve energy-related problems, as the developing components in the nano-regime provide alternate ways to capture, store, and exchange energy. Applications of nanotechnology have opened new avenues and brought novel concepts to the fore to improve the photovoltaic efficiency of devices without compromising on cost-effectiveness. Further, nanotechnology can also play a major role in making cost-effective fuel cells, manufacturing materials with high durability and lower weight for the wind energy industry. In this context, this chapter focuses mainly on nanomaterial-based devices that could provide benefits by providing alternative energy sources or modifying existing ones, which are environmentally benign or improve the existing sources of renewable energy.