Abstract: A graded transparent conducting oxide (G-TCO) electrode allows the thickness of the electrode to vary from a very thin distal end to a relatively thick proximal end that resides near a metal current collector, generally for a grid of an ensemble of photovoltaic cells such that the thickness increases with the current carrying requirement of the electrode and the optical losses by the electrode are minimized. In this manner a photovoltaic cell can be improved in efficiency by the minimization of the optical losses while assuring the electrode can support all photogenerated current. The G-TCO electrode is prepared by sputtering through a mask that is suspended above a substrate, such as a photovoltaic cell absent its top electrode, where the mask does not reside on the substrate, but is suspended above the substrate.