Volume holographic optical elements have a number of features that can provide new functionality to optical systems. In this presentation, a review of some of these features will be presented. Following the introduction, two different systems with very different requirements will be considered and it will be shown how volume holography can be used to advantage. The first system is a volume holographic imaging system (VHIS) that acts similar to a confocal microscope. The difference is that scanning is not required for VHIS and greatly simplifies the design. A benchtop and endoscope version of the VHIS have been implemented and were used in clinical trials. The second application is in solar energy conversion. Solar concentrators, light trapping elements, and spectrum splitting filters have been realized and will be discussed. Another application of holography is for augmented reality eyewear where flat, highly functional optical elements are required. Finally, the capability of these systems is realized through the use of holographic recording materials with very different properties. A review of the polymer and dichromated gelatin materials used for these applications will also be discussed.