Third-generation solar cells represent a significant advancement in photovoltaic technology, aiming to surpass the efficiency and cost-effectiveness limitations of traditional silicon-based solar cells. These innovative cells employ novel materials and architectures, such as organic photovoltaics (OPVs), dye-sensitized solar cells (DSSCs), and quantum dot solar cells (QDSCs), to enhance energy conversion efficiency and reduce production costs. Third-generation solar cells offer potential benefits, including flexibility, transparency, and low-temperature processing, making them suitable for diverse applications, such as building-integrated photovoltaics (BIPV), wearable electronics, and space exploration. By leveraging cutting-edge materials and designs, third-generation solar cells can potentially achieve higher power conversion efficiencies, lower material costs, and improved environmental sustainability, paving the way for next-generation solar energy solutions. Ongoing research and development in this field focus on improving stability, scalability, and commercial viability, driving innovation and growth in the solar energy sector.