MXenes are the carbides and nitrides of transition metals which are two dimensional in structure. High surface area, remarkable hydrophilicity, enhanced electrical conductivity, and unique surface functional groups are some of the distinguished properties of MXenes. These features make them suitable for numerous applications across domains such as sensing, biomedicine, catalysis, and electromagnetic interference shielding followed by hydrogen generation and storage at the forefront. This article encompasses the discovery, structure, fabrication routes, and varied applications of MXenes with an emphasis on electrocatalysis in hydrogen evolution reactions and storage. The article depicts diverse compositions and surface modification routes for enhancing their properties. MXene-derived Z-scheme photocatalysts have also been explored for their applications in degrading organic pollutants and volatile organic compounds. The article brings out various concerns such as the self-restacking of MXenes due to van der Waals forces of attraction and their aggregation. Furthermore, it sheds light on the current status of MXenes and future development for sustainable energy technologies. Scaleup and high production costs are a few challenges that need to be addressed.