Scientists are primarily dedicated to transitioning towards renewable energy sources as the key focal point in addressing the increasing energy requirements for a sustainable future. Essential electronic components in energy storage devices utilize high dielectric constant materials for improved performance and efficiency. These specially designed devices find extensive use in various renewable energy applications. Multi-walled carbon nanotubes (MWCNTs) incorporated polymer composites represent a promising category of functional materials, frequently employed in energy storage devices due to their elevated dielectric constant values. However, achieving a uniform dispersion of MWCNTs in a polymer matrix is very important. Poor dispersion of MWCNTs affects the improvement in the features of polymer composites. Herein, physically linked MWCNTs loaded double network hydrogel composites have been developed. Co-polymer of ethylene glycol and acrylamide (p-EGAA) forms the first network and polyvinyl alcohol (PVA) forms the second network of the matrix. This specific double network structure is expected to be proved as an added feature to avoid the agglomeration of MWCNTs and improve the dispersion of MWCNTs. Characterization of co-polymer and double network composite materials was conducted using UV-visible and FTIR techniques to check their successful synthesis. The electrical properties of the double network composites were assessed, including parameters such as dielectric constant and conductivity. Three orders of magnitude increase in dielectric constant have been observed on adding less than 1 wt% of MWCNTs and a 1000-fold increase in conductivity has occurred on adding 1.5 wt% of MWCNTs. Based on these results, the fabrication of double network hydrogel composites is viewed as a progressive advancement in developing energy efficient and energy storage devices for applications in renewable energy.