Energy conversion and storage are among the most important research topics of the modern age. Using earth-abundant elements in advanced energy systems is of considerable scientific interest. Boron possesses the second greatest heating value of any element that can be adopted as an alternative fuel. Concerning the extensive energy-related studies and applications on boron compounds with hydrogen, carbon, and nitrogen; the information on the element's energetic aspects is minimal. In the current conditions, the potential energy of boron cannot be fully utilized due to the ignition resistance of boron particles which, hinders its use for any practical applications. This article reviews our current understanding of the combustion, hydrolysis, and fusion characteristics of boron. Current challenges in the oxidation of boron nanoparticles as a source of thermal energy, possible solutions for hydrogen production due to boron hydrolysis and, the developments in the radiation-less boron-proton fusion as a clean energy source are presented.