Geothermal energy is clean and renewable, derived from the heat stored within accessible depths of the Earth’s crust. The adoption of a single-well system for medium-deep and deep geothermal energy extraction has attracted significant interest from the scientific and industrial communities because it effectively circumvents issues such as downhole inter-well connections and induced seismicity. However, the low heat transfer capacity in geothermal formations limits the heat extraction performance of single-well systems and hinders their commercial deployment. This review covers various enhancement concepts for optimizing the heat transfer within single-well systems, emphasizing critical parameters such as heat transfer area, heat transfer coefficient, and temperature difference. Additionally, it presents the thermo-economic evaluation of different configurations of single-well borehole heat exchangers and superlong gravity heat pipes (SLGHPs). The SLHGP, utilizing phase-change heat transfer, is recognized as a highly effective and continuously productive technology, capable of extracting over 1 MW of heat. Its pumpless operation and ease of installation in abandoned wells make it cost-effective, offering a promising economic advantage over traditional geothermal systems. It also highlights the challenges and potential research opportunities that can help identify gaps in research to enhance the performance of single-well geothermal systems.