This talk will review some of the key developments of semiconductor quantum dots based light energy conversion. Semiconductor nanostructures are finding new ways to design light energy conversion devices (e.g., thin film solar cells and light emitting devices). The decreased consumption of energy during the manufacture and the lessened use of semiconductor materials lowers the overall carbon footprint with energy payback time less than a year for such devices. The early studies which focused on the synthesis of various semiconductor nanostructures and exploration of their size dependent optical and electronic properties have led to their their integration in high efficiency thin film solar cells.. Unlike solar cell devices, photocatalytic processes are yet to deliver conversion efficiencies and stability that can make them compatible for practical applications. Understanding the limitations imposed by interfacial charge transfer processes remains a key to further advance photocatalytic systems for chemical energy storage. Recent developments in utilizing semiconductor nanostructures for light energy conversion and storage will be discussed.