This review paper explores the innovative realm of transparent solar panels, investigating their properties, applications, challenges, and recent advancements. Transparent solar panels, designed to harvest solar energy while allowing visible light to pass through, have gained significant attention due to their potential to revolutionize renewable energy technologies. The paper delves into the working mechanisms of various types of transparent solar panels, including Organic Photovoltaic (OPV) panels, Dye-Sensitized Solar Cells (DSSC), Perovskite Solar Cells, and Transparent Thin-Film Silicon Solar Cells. It discusses their integration into diverse applications, such as building-integrated photovoltaics, consumer electronics, the automotive industry, and aerospace. The review identifies challenges, including low efficiency, durability concerns, production costs, and integration hurdles, that currently hinder their widespread adoption. Moreover, the paper emphasizes the transformative potential of transparent solar panels in shaping the future of renewable energy, not only as energy generators but also as aesthetically pleasing and multifunctional components of our built environment. Finally, the paper underscores the need for continued research and development efforts to enhance efficiency, improve stability, and address integration challenges, paving the way for transparent solar panels to play a central role in the transition toward a more sustainable and energy-efficient future.