We demonstrate semitransparent inverted polymer solar cells with highly transparent anodes. The structure of the anode is molybdenum trioxide (MoO3)/silver (Ag)/vanadium pentoxide (V2O5). The inner MoO3 layer is introduced as a buffer layer to improve holes collection, while the outer V2O5 layer served as a light coupling layer to enhance optical transmittance of the photovoltaic device. The maximum transmittance of 90% from 400 nm to 700 nm is obtained when the thickness of V2O5 is 40 nm. When the thickness of V2O5 is 40 nm, under AM1.5G illumination of 100 mW/cm(2) illuminated from ITO side (bottom), the J(SC) is 5.01 mA/cm(2), the V-OC is 0.591 V. the FF is 61.8%, and the PCE is 1.83%; from MoO3/Ag/V2O5 side (top), the J(SC) is 4.28 mA/cm2, the V-OC is 0.585 V. the FF is 61.9%, and the PCE is 1.55%. The trend of the optical electric field distribution is highly consistent with the J, which is dependent on the thickness of the V2O5 top capping layer. (C) 2011 Elsevier B.V. All rights reserved.