1 T phase of MoS2 has been recently established as a high photo and electro active catalyst for hydrogen generation and energy storage applications. The present study explores the possibility of utilizing its enhanced features for photovoltaic applications with a detailed analogy of the two phases of MoS2 for counter electrode applications in Quantum dot sensitizes solar cells (QDSSCs). The two phases namely 2H and 1 T phase of MoS2 have been synthesized by two different approaches namely bottom up and top down methods. The functionalized (stabilized) 1 T phase shows a significant improvement in its photovoltaic performance over 2H phase as a composite counter electrode (CE) material used with CuS in QDSSCs. The study is supported by material characterization via microscopy, spectroscopy and electrochemical characterization through impedance studies. The metallic 1 T phase with its bandgap less than 1 eV significantly improves the electron life time, charge transfer, charge separation and hence the overall performance of the QDSSCs thus offering itself as a new stable photovoltaic CE material.