Graphene is a layer of single atom thick carbon. It’s currently the strongest material in the world. Graphene has an extensive range of potential applications. Graphene is now being tested in many fields such as electronics, energy recovery, cosmetics, water treatment etc. This review paper stresses on different methods of synthesis of graphene oxide (GO) and means of usage of such material in wastewater treatment and energy storage. The wastewater treatment application includes Microbial fuel cell (MFC) and uses of Graphene oxide membrane. Energy storage application includes GO based batteries and GO based supercapacitors. Basic Information about MFC’s working and design, working and construction on GO based batteries and supercapacitors has been described in this review.