In this Perspective, we address the fundamentals and possible implications of Rashba phenomena particularly for noncentrosymmetric and heavy element-containing hybrid perovskite systems. The work sheds light on the application paradigm of these exciting phenomena in the field of photovoltaics, light-emitting diodes, and catalytic reactions. The experimental realization along with the theoretical prediction of these phenomena in the emerging energy materials family of hybrid perovskites opens up a new direction for modulating the charge carrier recombination probability of the excited electrons and the holes. The influence of external parameters, such as pressure, uni- and biaxial strain, and electric field, has been addressed explicitly to change the Rashba factor, which essentially suppresses the recombination rate. The current Perspective provides a roadmap of materials design and the effect of external stimuli on the plethora of hybrid perovskite materials for extensive energy scavenging with the focus on photovoltaics.