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Parabolic trough collectors (P.T.Cs) are efficient solar energy harvesting devices utilized in various industries, for instance, space heating, solar cooling, solar drying, pasteurization, sterilization, electricity generation, process heat, solar cooking, and many other applications. However, their usage is limited as the high capital and operating costs; according to the International Renewable Energy Agency's 2020 report, the global weighted average levelized cost of electricity (L.C.O.E) for P.T.Cs was 0.185 $/kWh in 2018. This work analyses the economic, technical, and environmental potential of sustainable energy to increase the use of P.T.Cs in different sectors. To study how self-weight, heat loss, and wind velocity affect P.T.C performance, prototype testing, and wind flow analysis were used. Although P.T.Cs outperform in capacity factor, gross-to-net conversion, and annual energy production, improving their overall efficiency is crucial in reducing total energy production costs. Wire coils, discs, and twisted tape-type inserts can enhance their performance by increasing turbulence and heat transfer area. Improving the system's overall efficiency by enhancing the functioning and operation of individual components will also help decrease total energy production costs. The aim is to minimize the L.C.O.E associated with a P.T.C in order to enhance its economic viability for an extended period. When the nanofluid-oriented P.T.C was included in the conventional P.T.C workings, there was a decrease in the L.C.O.E by 1%. Of all the technologies available, ocean, geothermal, and C.S.P parabolic trough plants generate lower amounts of waste and harmful gases, with average emissions of 2.39%, 2.23%, and 2.16%, respectively, throughout their lifespan. For solar-only and non-hybrid thermal energy storage plants, the range of greenhouse gas emissions is between 20 and 34 kgCO₂ equivalents per megawatt-hour. Coal, natural gas steam turbines, nuclear power plants, bioenergy, solar PV, geothermal, concentrated solar power, hydropower reservoir, hydropower river, ocean, and wind power plants all release greenhouse gases at rates of 1022, 587.5, 110.5, 633, 111, 48, 41, 82.5, 7.5, 12.5, and 41.5 gCO₂-e/kWh, respectively. This information is useful to compare the environmental effect of various energy sources and help us to choose cleaner, more sustainable options for the production of electricity. The ongoing advancements and future scope of P.T.Cs could potentially make them more economically viable for domestic, commercial, and industrial applications.