Wide-bandgap semiconductors are regarded as preferred materials for preparing semiconductor conversion devices in betavoltaic batteries due to their high theoretical conversion efficiency (ηc). However, there are a few comprehensive analytical studies on why the experimental values of ηc are generally much lower than the theoretical limit of ηc (ηc-limit) and how to improve ηc and its stability. In this work, combined with the energy deposition distributions of Ti3H2, 63Ni, and 147Pm2O3 radioactive sources in SiC obtained from Monte Carlo simulations, a multi-physical mechanism, multi-parameter coupling numerical model was established. This model can comprehensively analyze the output characteristics of betavoltaic batteries under the influence of actual device structural and material parameter changes. Our results show that changes in structural and material parameters cause significant variations in the collection efficiency (Q) of the radiation-generated electron–hole pair (RG-EHP). Considering structural parameters are easy to control, instabilities in actual SiC material parameters, which include electron diffusion length (Ln), hole diffusion length (Lp), and surface recombination velocity (S), are the main reason that ηc fluctuates significantly and is generally far lower than ηc-limit. Due to differences in the distribution of RG-EHP produced by different radioactive sources in SiC, the dominant parameters causing ηc fluctuations differ. By analyzing differences in recombination loss mechanisms under different radioactive sources, the device structures were designed in a targeted manner to make ηc closer to ηc-limit. Meanwhile, when the SiC material quality fluctuates, the stability of ηc increases by 58.5%, 35.3%, and 48.2% under Ti3H2, 63Ni, and 147Pm2O3, respectively.