The high breakdown field from WBG materials allows the construction of unipolar devices with very low specific chip resistance mainly characterized by very low conduction and switching losses, even at high blocking voltages. Suitable concepts for SiC and GaN range from traditional FET structures driven by a MOS interface or a PN-Junction, bipolar devices and even high-electron mobility transistors (HEMT). A detailed revision of the literature will be performed in this work with the objective of providing a broad overview of possible approaches, along with inherent advantages and limitations. In addition to this, a benchmarking of several SiC-based devices technologies rated for 1200V and 1700V will be performed against their state-of-the-art Silicon-counterparts.Concerning the application of wide band gap devices in renewable energy systems, a significant cost reduction potential can be obtained due to smaller expenditure with magnetic filters and cooling, alongside higher efficiency levels. These aspects will be discussed in details in order to identify constraints and bottlenecks at application level with special focus on photovoltaic and wind power systems.