Delafossite materials have excellent properties making them highly sought after for the next-generation solar cells. They are based on abundant and non-toxic elements, and since environmental and economic factors are crucial in pursuance of discovering a new solar energy harvester, extensive research has been done. This paper reviews various synthesis methods, crystal structure and optoelectronic properties of delafossite materials. The calculated solar cell parameters such as short-circuit current (Jsc), open circuit voltage (Voc) and efficiency ($η$) for solar cells fabricated through diverse conditions are reported. The findings indicate that these materials are ideal for use in solar cells as they can function as photocathodes or photoanodes in p-type dye-sensitised solar cells (DSSCs) and also serve effectively in absorber layer and hole transport layers. Their unique crystal structure with tunable band gap allows for maximizing power conversion efficiency. However, there are still limitations in synthesizing the nanoparticle structures to achieve desired properties, and improvement in various aspects and higher efficiency are still required.