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At present, vast numbers of problems are triggered due to growing global energy crisis and rising energy costs. Since, on-road vehicles constitute the majority share of transportation; any energy losses in them will have a direct effect on the overall global energy scenario. Most of the energy lost is dissipated from the exhaust, cooling, and lubrication systems, and, most importantly, in the braking system. About 6% of the total energy produced is lost with the airstream in form of heat energy when brakes are applied. Thus, various technological systems need to be developed to conserve energy by minimize energy losses while application of brakes. Regenerative Braking is one such system or an energy recovery mechanism causing the vehicle to decelerate by converting its kinetic energy into another form (usually electricity), which further can be used either immediately or stored until needed.