Solvents can affect the solubility of reactants, intermediates, and products, thereby influencing the reaction rate and mechanism. In homogeneous catalysis, the choice of solvent can affect the coordination environment around the catalyst, impacting its activity and selectivity. In heterogeneous catalysis, solvents can affect the diffusion of reactants to the catalyst surface. Solvent polarity, viscosity, and boiling point are key factors to consider.