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Excitonic energy transfer is a versatile mechanism by which colloidal semiconductor nanocrystals can interact with a variety of nanoscale species. While this process is analogous to dipole–dipole coupling in molecular systems, the corresponding energy transfer dynamics can deviate from that of molecular assemblies due to manifestations of bulk-like features in semiconductor colloids. In particular, weak exciton binding, small singlet–triplet exciton splitting, and the energy disorder across nanocrystal ensembles can all play distinctive roles in the ensuing energy conversion processes. To characterize the variety of energy transfer schemes involving nanocrystals, this feature article will discuss the latest research by both our group and other groups on the key scenarios under which nanocrystals can engage in energy transfer with other nanoparticles, organic fluorophores, and plasmonic nanostructures, highlighting potential technological benefits to be gained from such processes. We will also shed light on experimental strategies for probing the energy transfer in nanocrystal-based assemblies, with a particular emphasis on novel characterization techniques.