Anaerobic digestion (AD) is a technology that is gaining popularity because of the need for more renewable energy sources around the world. AD is a complex series of biochemical reactions that ultimately result in the formation of biogas, which is a mixture of methane and carbon dioxide with other trace elements. From large installations to small personal reactors, the underlying basic process is the same, but through research, pretreatments and substrate co-digestion are becoming more popular to enhance biogas production. Reactor design and substrate selection also vary depending on the installation's location. Biogas cleaning and upgrading help to increase the usability of the gas for multiple applications. The economic viability depends on the location in the world and the available substrate quality and quantity. AD processes rely heavily on government subsidies to stay profitable. In developing countries, AD profitability is not a concern, as this technology provides a way to better human life in these areas. This review presents a detailed look at the AD technology, provides a discussion on the economics of AD, and suggests future studies to enhance the technology.