In recent years, as population growth and industrial development have led to rapid growth in global energy demand, the dwindling traditional fossil fuel resources and the increasing difficulty of extraction may not be able to meet the energy consumption of the future world. Therefore, researchers are committed to finding clean renewable energy sources as alternatives to traditional fossil fuels. As one of the most abundant renewable energy sources on earth, photovoltaic technology, which converts solar energy (light energy) into electrical energy, is receiving more and more attention due to its advantages such as cleanliness and feasibility. Since its birth in 1954 at Bell Laboratories in the United States, solar cells have developed through three generations over the past 70 years. Silicon-based solar cells produced on silicon wafers are the first generation of solar cells and still dominate the global solar cell market with high Power Conversion Efficiency (PCE) and high stability. However, high raw material costs and cumbersome high-temperature processing manufacturing processes restrict its further development. Thin-film solar cells based on inorganic semiconductor films such as amorphous silicon, copper indium gallium selenide, and cadmium telluride are called second-generation solar cells. Compared with silicon-based solar cells, the cost of raw materials for thin-film solar cells is reduced, but in order to obtain optimal performance, high-vacuum film deposition and high-temperature annealing are still required, which further increases processing costs. At the same time, the raw materials are toxic and are not conducive to large-scale mass production. Therefore, although both the first-generation and the second-generation photovoltaic cells can achieve PCE of more than 20%, complex processing techniques and high costs limit their future development. These problems force scientists to focus on Moving to third-generation solar cells manufactured using low-cost technologies. The third generation of solar cells are collectively called new solar cells, including dye sensitized solar cells (DSSCs), quantum dot solar cells (QDSCs) and perovskite solar cells (PSCs). Organic-inorganic halide PSCs have attracted much attention due to their simple fabrication process, low cost, and high efficiency. Over the past ten years, due to huge research efforts in composition, process and defect passivation, the PCE record of PSCs devices has soared to 26% in just over ten years since their introduction in 2009, which is close to that of silicon-based devices solar cell efficiency record. At present, it ranks third in single-junction photovoltaic cells and still has great development potential in the future. From this perspective, we briefly review the development of PSCs from discovery to laboratory research to commercialization progress. In this paper, the structure and properties of hybrid perovskite materials are introduced. Following that, the evolution of key components and device structures of perovskite solar cells since their inception are reviewed. At the same time, we are aware of the importance of the improvement of power conversion efficiency for the future development of perovskite solar cells. Therefore, the latest research results in the use of defect passivation strategies to improve power conversion efficiency in the past three years are summarized. Finally, the challenges faced by perovskite solar cells are described and future commercial prospects are prospected.