Global warming has led to the frequent occurrence of extreme heat events, causing a continuous rise in cooling energy consumption for buildings and equipment. Consequently, electricity demand for cooling has emerged as a major driver of power grid load growth. In the context of the "Dual Carbon" (carbon peaking and carbon neutrality) strategy, developing low−energy and green cooling technologies has become a crucial challenge. Radiative cooling, a passive cooling technology based on infrared radiation exchange between the Earth and deep space, has garnered significant attention due to its advantages of zero energy consumption and zero carbon emissions. This paper systematically reviews relevant research and proposes three core perspectives: First, although radiative cooling holds potential application value in fields such as building energy conservation, photovoltaic panel cooling, and power equipment thermal management, its actual engineering benefits may be overestimated. Second, transitioning from laboratory research to industrial application faces major obstacles that extend beyond material performance optimization to include practical challenges such as scalable manufacturing processes, long−term weatherability, and economic costs. Third, the lack of standardized performance testing protocols and certification systems results in insufficient comparability among research findings, thereby hindering its widespread promotion and application at both the industrial and policy levels. Based on typical case studies and empirical data, this paper analyzes the applicability and limitations of radiative cooling across various climatic conditions and application scenarios, while also addressing related controversies. The future development of radiative cooling must transcend the limitations of singular material optimization and foster interdisciplinary collaboration: on the one hand, it requires the development of low−cost, scalable new material systems; on the other hand, comprehensive standard specifications, policy incentives, and market mechanisms must be established. Only through multi−dimensional collaborative innovation can the gap between laboratory achievements and practical applications be bridged, enabling radiative cooling to genuinely fulfill its potential in energy conservation, emission reduction, and sustainable development.