Recently, there has been tremendous progress in the field of nanodimensional conducting polymers with the objective of tuning the intrinsic properties of the polymer and the potential to be efficient, biocompatible, inexpensive, and solution processable. Compared with bulk conducting polymers, conducting polymer nanostructures possess a high electrical conductivity, large surface area, short path length for ion transport and superior electrochemical activity which make them suitable for energy storage and conversion applications. The current status of polymer nanostructure fabrication and characterization is reviewed in detail. The present review includes syntheses, a deeper understanding of the principles underlying the electronic behavior of size and shape tunable polymer nanostructures, characterization tools and analysis of composites. Finally, a detailed discussion of their effectiveness and perspectives in energy storage and solar light harvesting is presented. In brief, a broad overview on the synthesis and possible applications of conducting polymer nanostructures in energy domains such as fuel cells, photocatalysis, supercapacitors and rechargeable batteries is described.