We propose a novel transparent electrode consisting of silver (Ag)-aluminum doped zinc oxide (AZO)-nickel (Ni) deposited at room temperature on glass and polyethylene terephthalate (PET) for flexible organic photovoltaics. The electrode combines the high electrical conductivity and mechanical ductility of Ag, the transparency and antireflection of AZO and the high work function and stability of Ni. Environmental stability results confirmed that the electrode maintains its optical and electrical properties at both elevated temperature (500 degrees C) and under damp heat conditions (85 degrees C and 85% relative humidity). To demonstrate its functional potential, the electrode has been used as the transparent anode in an organic solar cell (OSC), which shows an efficiency of 2.6%, very close to the value (2.9%) obtained in a similar cell using the widely used indium tin oxide (ITO). With respect to ITO, the proposed transparent electrode has several advantages, including mechanical flexibility, room temperature processing and low cost. (C) 2012 Elsevier B.V. All rights reserved.