Energy shortage and the environmental pollution are the outcomes of continuously increasing population. The sustainable human development will depend upon the alternative energy resources because the availability of the natural reserves of coal, gas and oil is uncertain due to imbalance of demand and supply. Possible alternatives to natural resources include nonconventional oil and gas, nuclear power, wind, tidal, solar, geothermal, hydrogen, etc [1]. Solar energy is a cheap and convenient alternative to natural reserves as earth receives plenty of it every day [2]. One of the ways of utilizing the solar energy is the photovoltaic technology which employs an absorber material that captures the sunlight for the generation of electricity. Currently, the photovoltaic market share is dominated by the crystalline Si (single or multicrystalline) solar panels (> 80%) while the thin film panels (amorphous/micromorph Si, CdTe, copper-indiumselenide/copper-indium-gallium-diselenide CIS/CIGS) contribute< 20%[3]. The most advanced configurations of solar cells include dye sensitized solar cells, quantum dot solar cells, concentrator solar cells, organic/polymer solar cells, etc which are not yet commercialized. The future of solar cell industry relies on two aspects: viz: cost and efficiency. Thin films offer many advantages over single crystals eg ease of fabrication, cost effectiveness, small amounts of materials used, etc., and currently thin film solar cells reached the efficiencies of 19%[4]. The high processing cost of elemental Si, toxicity of Cd, rare existence of Te and In and high