This work discusses the designing and applications of the novel rare earth tri-doped zirconia i.e. [Gd-Ho-Dy]:ZrO2 semiconductor. [Gd-Ho-Dy]:ZrO2 as a spacer layer improved the efficiency of the perovskite solar cell reaching up to 14.06% at the ambient conditions. This material is stable for an extended duration without alterations in the electrochemical output achieving a higher specific capacitance of 237.5 F g−1. The O2 and H2 production potential of this material is evaluated for electro-catalysis of water. [Gd-Ho-Dy]:ZrO2 semiconductor is an effective electro-catalyst for oxygen and hydrogen production with the comparatively lower Tafel slope values of 271.3 and 125.9 mV dec−1, respectively. The lower Tafel slope value for hydrogen generation shows the effectiveness of the prepared electro-catalyst for hydrogen evolution reaction (HER). The augmented electrochemical performance and stability of the developed semiconductor shows its practical scale employment in different energy related applications.