Presently, among the various technologies for solar energy utilization, photovoltaic/thermal-solar assisted heat pump system can be identified as an important area of research. The system involves the favourable integration of photovoltaic modules with a heat pump and thereby cogenerates heat and electricity with improved performance coefficient and overall efficiency. Compared to the other hot water technologies that use either conventional or non-conventional energy resources, this system is more energy efficient and reliable. Here, a critique of the existing literature is carried out to understand the current status and shortcomings of this field. The in-house designed and developed photovoltaic/thermal-solar assisted heat pump system is also discussed. It can be identified that this system is a promising technology for the future, which still provides sufficient scope for further studies.