Nanostructures generated from block copolymer self-assembly enable a variety of potential technological applications. In this article we review recent work and the current status of two major emerging applications of block copolymer (BCP) nanostructures: lithography for microelectronics and photovoltaics. We review the progress in BCP lithography in relation to the requirements of the semiconductor technology roadmap. For photovoltaic applications, we review the current status of the quest to generate ideal nanostructures using BCPs and directions for future research.