Nanocrystalline materials are quite promising in the fabrication of photovoltaic devices because of their advantages over conventional polycrystalline and amorphous materials. Also, nanocrystalline materials have great potential for technological applications. This paper discusses how nanocrystalline semiconductors were characterized structurally using X-ray Diffraction (XRD) and Scanning Electron Microscopy (SEM). Further investigations of the deposited layers included the elemental analysis using EnergyDispersive X-Ray (EDXR). The results obtained revealed that the nc-Si is polycrystalline in nature with the grain size of ≤ 100 nm. The elemental analysis reveal that the indium tin oxide consists of Sn 35 wt%, Si 15.54 wt%, In 11.84 wt% and Al 11.74 wt%. The XRD results are found to be consistent with EDXR results. The photovoltaic application of the deposited layer is discussed.