The field of thin-film photovoltaics has been recently enriched by the introduction of the hybrid organic inorganic lead halide perovskites as absorber materials, which allow low-cost synthesis of solar cells with efficiencies exceeding 22%. The impact of the crystal structure, composition and dimensionality on the optoelectronic properties of these compounds is the focus of intense research at the present time. I will briefly outline notable achievements to date, describe the unique attributes of these perovskites that has led to their rapid emergence as serious candidates for cheap photovoltaic solar cells, and discuss other potential optoelectronic, and more recently, spin physics and spintronic applications of these compounds.