Abstract Global energy consumption is increasing at a dramatic rate and will likely continue to do so. The major source of energy is still fossil fuel, which has resulted in the well-documented problem of global warming due to the emission of greenhouse gases from the burning of such fuel. Climate change and global warming are among the crucial and complex issues encountered by the world today, and they require an immediate solution. Technological innovation is the key to ensuring energy security without causing emissions and providing efficient cost-effective energy solutions. Power electronic technologies offer high reliability and renewable energy conversion efficiency, thus contributing to energy conservation, improving energy efficiency, and helping in the mitigation of harmful global emissions. This review focuses on various aspects of power electronic technologies and their importance in tackling carbon emission and global warming problems. The key topologies of power electronic converters are explained based on types, control difficulties, benefits, and drawbacks. Power electronic controllers utilized for energy conversion are comprehensively reviewed with regard to their structure, algorithm complexity, strengths and weaknesses, and mathematical modeling. The review focuses on power converters and controllers used in different applications and highlight their contributions to energy conservation, increasing the share of renewable energy sources, and mitigating emissions. Moreover, existing research gaps, issues, and challenges are identified. The insights provided by are expected to lead to the enhanced development of advanced power electronic converters and controllers for sustainable energy conversion. Such development can reduce carbon emissions and mitigate global warming.