This work reports the successful synthesis of an efficient near infra-red (NIR) emitting KSrVO4:Yb3+ phosphor using the combustion method. The X-ray diffraction technique (XRD) confirmed the orthorhombic phase of a material whereas X-ray photoelectron spectroscopy (XPS) analyzed the elemental makeup and chemical states of the phosphor components. Photoluminescence (PL) analysis revealed that the phosphor exhibit superior thermal stability and emit in the NIR region when activated by near-UV light. An upsurge in emission intensity occurs upon the incorporation of Bi3+ as a co-dopant. Using diffuse reflectance spectra (DRS), optical band gap, metallization constant, and refractive index were computed for all ion concentrations in KSr(1-x)VO4:xYb3+ (0 ≤x ≤ 0.06). For the optimized concentration of Yb3+ into the host, numerical values of these parameters were also estimated. The studies reveal that the produced material may be applied as a solar spectrum converter to improve the efficiency of crystalline silicon (c-Si) solar cells.