Halide perovskite nanocrystals (PNCs) are promising materials for optoelectronic devices and photocatalysts in solar photoelectrochemical (PEC) reactions due to their redox properties. These systems rely on effective charge separation, recombination, and transport under electrochemical bias or light irradiation within charge-transporting environments. However, the stability of PNCs is significantly influenced by the solvents and electrolytes used, often leading to irreversible structural transformations and loss of intrinsic properties. This review emphasizes the importance of electrochemical and in-situ spectroelectrochemical techniques for characterizing PNCs’ redox properties, band structure, and halide defect sites that drive redox reactions and structural deformation. The discussion provides insights into modifying PNCs for use in optoelectronic devices or PEC cells and introduces innovative strategies to enhance their structural stability and improve device performance. This comprehensive analysis aims to bridge material stability and functional optimization in PNC-based applications.