The growing demand for sustainable heating and the variability of solar energy underscore the need for efficient thermal energy storage (TES) solutions. This study reviews recent advancements in latent heat thermal storage (LHTS) systems using bio-based phase change materials (PCMs), focusing on improving storage efficiency and thermal conductivity through geometric and structural innovations. Among various tank configurations analyzed, the finned truncated cone geometry demonstrated the highest performance, achieving a melt fraction of φ = 0.99, compared to φ = 0.94 for finned cylindrical and φ = 0.099 for basic cylindrical tanks. This improvement results from minimized upper-zone PCM volume, enhanced heat distribution, and reduced thermal gradients. Additionally, the integration of evacuated tube collectors (ETCs), with 84% higher thermal efficiency than flat plate collectors, ensures efficient medium-temperature heat input suitable for PCM systems. The study further explores the novel application of bionic fractal microchannel fins, which enhance thermal conductivity by 40–60% compared to traditional straight fins, promoting uniform phase change and accelerated thermal response. Bio-based PCMs such as erythritol, with a latent heat of 344 kJ/kg and density of 1450 kg/m3, outperform myristic acid in energy density and system compactness. The review concludes that combining ETCs, optimized tank geometries, and fractal fin structures could significantly enhance the effectiveness of TES systems. These integrated solutions contribute to reducing greenhouse gas emissions, improving energy self-sufficiency, and supporting the transition toward zero-carbon, solar-powered buildings.