Broader Context Dye-sensitized solar cells (DSCs) have been regarded as a promising cheaper alternative to conventional photovoltaic systems. Fostering large-scale applications, many efforts have been made to replace platinum as the catalytic material of the electrocatalytic reaction that takes place at the counter-electrode (CE) side (cathode) of the DSC due to its scarce nature and high price. To date, there was no other material capable of matching Pt electrocatalytic activity for the I3 − /I − redox couple (the most used electrolyte system), associated with a high optical transparency of the electrode. Although transparency is not mandatory for a DSC, it is highly appreciated as it increases the product value by enabling its use in building integrated applications (BIPV), as well as in other solutions such as tandem cells. Consequently, an important challenge emerges in order to find a proper substitute for Pt as the CE material of a DSC. Here we report the development of a novel CE capable of delivering simultaneously high efficiency and transparency for iodine-based electrolyte systems in DSCs. The presented CE is based on a structured film of oxidized graphene nanoplatelets applied over metal (nickel) nanoparticles, with a very simple manufacturing process. Both materials and processes should enable the fabrication of a cheaper DSC.A new highly transparent and low cost counter-electrode for dye-sensitized solar cells was fabricated, comprised of a structured graphene film over nickel nanoparticles. Annealed nickel particles induced an enhanced restoration of graphene double bonds, which led to cells with energy conversion efficiencies similar to those using a conventional platinum electrode. Dye-sensitized solar cells (DSCs) are a promising new alternative photovoltaic technology due to the lower manufacturing costs and potential for high-energy conversion 1, 2 . Typically a DSC is comprised of a porous nanocrystalline titanium oxide film (TiO2) decorated with a sensitizer and a platinum counter-electrode (CE), both deposited on top of a transparent conductive oxide glass, and an liquid electrolyte containing iodide/triiodide (I3 − /I − ) redox couple. Throughout the years attempts have been made to replace Pt as the catalyst material in DSCs with potentially cheaper carbonaceous materials, either in their pristine or composite forms. 3,4 However, as the performance of these materials is strongly affected by the available surface area for reaction, 4, 5 it is necessary a large amount of carbon for efficient catalysis making the electrodes opaque and bulky, 4 and thus undermining the DSC's transparency properties offered by the Pt CE. Graphene has been gathered interest in recent years as a potential candidate for the replacement of traditional Pt as a CE material in a DSC. Graphene, an atomically thick sheet composed of sp 2 carbon atoms arranged in a flat honeycomb structure, 6 is a material with very high specific surface area, high optical transmittance and good electrocatalytic properties. [7][8][9] M...