The field of photovoltaics faces a challenge in selecting transparent conductive electrode materials, especially due to limitations of commonly used Indium Tin Oxide (ITO) in terms of cost and brittleness. To address this, a comprehensive Figure of Merit (Formula presented.) has been derived, incorporating mechanical, electrical, and optical properties of the materials. This novel (Formula presented.) equation, denoted as ‘FOM (CoMEO)’, guides the evaluation of transparent conductive materials. Systematic simulations and sensitivity analyses explore the trade-offs among different parameters. Remarkably, our findings reveal that Silver Nanowires (AgNWs) exhibit the highest (Formula presented.) value at 688 (Formula presented.) 10−6 m3/Ω. Zinc Oxide doped with Aluminium (ZnO:AI) also demonstrates promising performance with an (Formula presented.) of 295.4 (Formula presented.) 10−6 m3/Ω. Even the traditional ITO stands out at 36.16 (Formula presented.) 10−6 m3/Ω. These results make AgNWs, ZnO:AI, and ITO promising candidates for high-efficiency photovoltaic devices. This study not only addresses the urgent need for optimised transparent conductive electrodes but also lays the foundation for a new era of photovoltaic materials that are efficient, cost-effective, and mechanically robust. © 2024 Informa UK Limited, trading as Taylor & Francis Group.
