Solar energy is anticipated to be the most viable source of sustainable green energy. Perovskites have gained significant research attention in recent years as a solar energy harvesting material due to their desirable photovoltaic enabling properties. The potential strategies for a more effective use of these materials can involve multiple energy conversion mechanisms through a single device or employing materials where a solar or thermal input provides multiple electrical outputs to enhance the overall energy harvesting capability. In this context, the present review focuses on perovskites, including both organic halide perovskites and inorganic oxide perovskites, due to their proven properties as photovoltaic materials and their intriguing potential for additional functionality, such as ferroelectricity. Ferroelectrics are a special class of perovskites that have been studied in detail for photoferroic, pyroelectric and thermoelectric effects and energy storage, which we briefly review here. Furthermore, the possibilities of simultaneously tuning these mechanisms in perovskite materials for multiple energy conversion mechanisms and storage for ultra-high density capacitor and battery applications is also examined in order to attain a better understanding and to present novel opportunities. An understanding of all these mechanisms and device prospects will inspire and inform the selection of appropriate materials and potential novel designs so that the available solar and thermal resource could be utilized in a more effective manner. This review will not only help in selecting an appropriate material from the existing pool of perovskite materials, but will also provide an outlook and assistance to researchers in developing new material systems.