Power conversion efficiencies (PCEs) of polymer solar cells (PSCs) have exceeded 18% in the last few years. Stability has therefore become the next most important issue before commercialization. Herein, the degradation behaviors of the inverted PM6:IT‐4F (PBDB‐T‐2F:3,9‐bis(2‐methylene‐((3‐(1,1‐dicyanomethylene)‐6,7‐difluoro)‐indanone))‐5,5,11,11‐tetrakis(4‐hexylphenyl)‐dithieno[2,3‐d:2′,3′‐d′]‐s‐indaceno[1,2‐b:5,6‐b′]dithiophene) solar cells with different ZnO layers are systematically investigated. The PCE decay rates of the cells and the photobleaching process of the IT‐4F containing organic films on ZnO surface are directly correlated with the light‐absorption ability of the ZnO layer in the visible light range, indicating that photochemical decomposition of IT‐4F is initiated by the light absorption of ZnO layer. By analyzing the products of the aged ZnO/IT‐4F films with matrix‐assisted laser desorption ionization time‐of‐flight mass spectrometry (MALDI‐TOF‐MS), it is confirmed that photochemical reactions at the IT‐4F/ZnO interface include de‐electron‐withdrawing units and dealkylation on the side‐phenyl ring. Hydroxyl radicals generated by the photo‐oxidation of dangling hydroxide by ZnO are confirmed by electron spin resonance (ESR) spectroscopy measurements, which is attributed as the main reason causing the decomposition of IT‐4F. Surface treatment of ZnO with hydroxide and/or hydroxyl radical scavenger is found to be able to improve the stability of the PSCs, which further supports the proposed degradation mechanism.

With the rapid progress of organic solar cells (OSCs), improvement in the efficiency of large‐area flexible OSCs (>1 cm2) is crucial for real applications. However, the development of the large‐area flexible OSCs severely lags behind the growth of the small‐area OSCs, with the electrical loss due to the large sheet resistance of the electrode being a main reason. Herein, a high conductive and high transparent Ag/Cu composite grid with sheet resistance <1 Ω sq−1 and an average visible light transparency of 84% is produced as the transparent conducting electrode of flexible OSCs. Based on this Ag/Cu composite grid electrode, a high efficiency of 12.26% for 1 cm2 flexible OSCs is achieved. The performances of large‐area flexible OSCs also reach 7.79% (4 cm2) and 7.35% (9 cm2), respectively, which are much higher than those of the control devices with conventional flexible indium tin oxide electrodes. Surface planarization using highly conductive PEDOT:PSS and modification of the ZnO buffer layer by zirconium acetylacetonate (ZrAcac) are two necessary steps to achieve high performance. The flexible OSCs employing Ag/Cu grid have excellent mechanical bending resistance, maintaining high performance after bending at a radius of 2 mm.