 perovskite solar cells, PSEs, have become a hot spot for solar cell researchers due to their rapid increase in efficiency up to 22.1% during the past few years, long carrier diffusion lengths, widely tunable band gap with great light absorption potential, and low-cost fabrication techniques. However, device instability, JV hysteresis, and lead toxicity reduce further improvement and future commercialization of PSEs. This review discusses the crystal and electronic structures of perovskite materials, evolution of PSEs, major barriers on the pathway for commercialization, stability issues, sustainability problems, and provides a road map for current needs and future research directions to address these challenges. This article was authored by Zheng Chishor and Ahalapidia H. Jayatissa.