Perovskite solar cells (PSCs) are a revolutionary photovoltaic technology with lab-recorded power conversion efficiencies (PCE) over 27%. Their excellent optoelectronic properties like high absorption coefficients, tunable bandgaps, and solution processability allow for ultra-low manufacturing costs and rapid production cycles. Globally, commercialization has sped up and Chinese enterprises are leading in industrial scaling. Critical advances in interface engineering and band alignment strategies improve performance of PSCs. However, significant commercialization barriers remain, including limited module-scale efficiency, environmental concerns about lead leakage, suboptimal stability and immature manufacturing protocols. Tandem architectures and lead-replacement chemistries are promising for further performance enhancement. Policy support for standardization, recycling infrastructure, and R&D collaboration is crucial for sustainable deployment. PSCs have the potential to transform building-integrated photovoltaics, vehicle integration, and large-scale renewable energy systems, potentially displacing > 150 million tonnes of CO2 annually after 2035.