CoO nanoparticles synthesized by solution combustion synthesis present a versatile platform for the development of porous nanostructures with tunable morphology and physicochemical properties. Synthesis conditions and parameters such as fuel type; fuel-to-oxidizer ratio and temperature control lead yielding; and CoO NPs with fine particle size, surface area, and porosity result in enhancing their electrochemical and catalytic capabilities. This review evaluates present studies about SCS CoO NPs to study how synthesis parameter modifications affect both surface morphology and material structure characteristics including porosity features, which make their improved performance ideal for lithium-ion batteries and supercapacitors. Moreover, the integration of dopants with carbon-based hybrid composites enhances material conductivity and stability by addressing both capacity fading and low electronic conductivity concerns. This review mainly aims to explore the significant relation between fundamental material design principles together with practical uses and provides predictions about future research advancements that aim to enhance the performance of CoO NPs in next-generation energy and environmental technology applications.