Researchers have derived inspiration from the biophotosynthetic structures in nature and have started to synthesize the modified bioinspired solar cells copying the evolved organic and inorganic material properties. One of the highlighted examples of bioinspired photo voltaic (PV) cells is the astonishing achievement of an increase in the absorption of integrated sunlight waves in unpatterned solar cells simulated from the wings of the butterfly. Further, deployment possibilities of incorporating flexible cells on flat or curved surfaces for optimizing performance are also under progress. This article mainly discusses the recent concepts of bioinspired solar cells at the research and development level with the prospects and challenges that lie ahead in the upcoming field of photovoltaic renewable energy cell technology. Different potential materials found suitable for bioinspired solar cells construction are reviewed with their particular challenges.