Photovoltaic (PV) technologies in the energy industry are crucial for transitioning to a decarbonized era that relies on renewable energy sources. This systematic review aimed to identify the potential environmental impacts associated with the entire life cycle of PV technologies. To accomplish this, the review analysed literature from the last five years focused on life cycle assessment and evaluating PV technologies' environmental impacts/toxicity. In total, 72 final articles were collected and analysed, considering the year of publication, research methodology, and geographical context. Although there is substantial knowledge regarding potential impacts associated with end-of-life (EoL) PV technologies, only a limited number of regions have specific regulations regarding PV waste. With the incorporation of circular economy principles, targeted strategies for EoL treatments can be developed and implemented, leading to a substantial reduction in the environmental impacts caused by EoL PV modules, where this aspect represents a critical concern within the context of PV technologies. Therefore, this study emphasises the need to integrate life cycle assessment, circular economy, and systems thinking to achieve more sustainable development when utilizing PV technologies so that the diffusion of PV technologies helps decarbonization transitions without creating major unintended environmental problems in waste systems.