Abstract Solar energy has become increasingly important in today's world as a clean and abundant energy source. Its significance spans across environmental, economic, and technological dimensions, making it a cornerstone for the future of energy production. However, widespread adoption of solar energy is hindered by the high costs associated with large‐scale implementation. To facilitate a broad transition to renewable energy, it is essential to actively explore various emerging materials for highly efficient and cost‐effective solar cells. With the recent advances in materials science, numerous emerging materials show high potential for these purposes. For example, rapid progress in perovskite research highlights its potential for making low‐cost and highly efficient solar cells. This review presents a comprehensive overview of emerging active materials for solar cells, covering fundamental concepts, progress, and recent advancements. The key breakthroughs, challenges, and prospects will be highlighted with a focus on solar cells based on organic materials, perovskite materials, and colloidal quantum dots. By delving into the progress and obstacles associated with these materials, this review offers valuable insights into the development of solar cell technology. As it is continued to unlock the potential of solar energy, this abundant and environmentally friendly energy source becomes increasingly viable.