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This review offers a critical survey of the published studies concerning nano-enhanced phase change materials to be applied in energy harvesting and conversion. Also, the main thermophysical characteristics of nano-enhanced phase change materials are discussed in detail. In addition, we carried out an analysis of the thermophysical properties of these types of materials as well as of some specific characteristics like the phase change duration and the phase change temperature. Moreover, the fundamental improving techniques for the phase change materials for solar thermal applications are described in detail, including the use of nano-enhanced phase change materials, foam skeleton-reinforced phase change materials, phase change materials with extended surfaces, and the inclusion of high-thermal-conductivity nanoparticles in nano-enhanced phase change materials, among others. Those improvement techniques can increase the thermal conductivity of the systems by up to 100%. Furthermore, it is also reported that the exploration of phase change materials enhances the overall efficiency of solar thermal energy storage systems and photovoltaic-nano-enhanced phase change materials systems. Finally, the main limitations and guidelines for future research in the field of nano-enhanced phase change materials are summarized.