Silicon is a promising anode material for the increased performance of lithium-ion batteries because of its high elemental composition and specific capacity. The application of silicon on a commercial scale is restricted due to the limitation of volume expansion. Silicon is also expensive, making it difficult for large-scale commercialisation. Different methods were used to address these issues, including a sintering process and the sol–gel method, to form silicon carbide (SiC), a hard chemical compound containing silicon and carbon. The silicon carbide anode not only acts as a buffer for volume expansion but also allows for better infiltration of the electrolyte, increasing charge and discharge capacity in the battery. Like silicon, silicon carbides can be costly. The development of renewable energy systems is very important, especially in the development of energy storage systems that are not only efficient but also cost-friendly. The cost of the energy storage devices is lowered, making them easily accessible. Silicon carbides can be synthesised from sugarcane, which is the fibrous waste that remains after juice extraction. This could be beneficial, as we could never run out of such a resource, and it offers low carbon with a high surface area. Silicon carbides can be synthesised by carbothermal reduction of silica from sugarcane bagasse. This review provides a comprehensive understanding of silicon carbides and synthetic processes. The innovative use of waste to synthesise materials would reduce costs and comply with Sustainable Development Goals (SDGs) 7 (affordable and clean energy) and 13 (climate action).