Oxide–metal–oxide (OMO)‐based stacks are highly attractive by virtue of their favorable properties for being used as a top transparent electrode (TE) in semitransparent solar cells. Herein, getting the best trade‐off between performance and transparency is focused on by optimizing the OMO electrode and the device layers with the help of optical simulation. NiO/Ag/SnO2 as the OMO electrode integrated into a device having SnO2, Spiro‐OMeTAD, and MAPbI3 as the electron transport layer, hole transport layer, and photoactive layer, respectively, in n–i–p geometry is investigated. It is shown that an optimized OMO electrode in terms of average visible transparency (AVT) does not translate to the best device performance. It is found that for the overcoat to undercoat oxide layer ratio of 1.17, a maximum short‐circuit current density (JSC) of 4.34 mA cm−2 is achieved while a maximum AVT of 21.55% is obtained for a ratio of 0.78. On further optimization of the MAPbI3 thickness, for an oxide ratio of 1, a modeled device with 4.58 mA cm−2 with AVT of 31.55% is demonstrated. In addition, it is also found that by integrating an optical spacer layer after the OMO electrode, the JSC of the device shows a jump of >115% to 9.86 mA cm−2.
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