of numerous applications exceeding the current technologies in the foreseeable future. For instance, lighting and display based on LEDs will be transparent, which can be applied in see-through displays, augmented reality/virtual reality headmounted displays, car head-up windshield displays, and smart windows in architectures. Semitransparent solar cells are considered the most promising energy harvesting systems to replace conventional building materials, such as roofing, skylights, curtain walls, facades, and other building envelopes. Traditional LEDs and solar cells are opaque, resulting from the top electrodes, which are typically fabricated with highly reflective metal films (Al, Au, Ag or Pt) to ensure the reflection of light back to the device (Figure 1a). The past three decades have witnessed a remarkable development of new-generation highly efficient LEDs and solar cells (Figure 1b,c). Next-generation flat-panel displays, including organic light-emitting diodes (OLEDs), quantumdot light-emitting diodes (QLEDs), and perovskite light-emitting diodes (PeLEDs), are attracting extensive attention due to the fascinating features, such as self-luminance, tunable emission spectra, wide color gamut, less power consumption, and extraordinary mechanical flexibility. [1-5] Efficiency is one of the most vital performance parameters in the whole electrical light sources, which determines the power consumption. For LEDs, external quantum efficiency (EQE) is regarded as the most representative efficiency term defined as the ratio of emitted photons over injected charge carriers. As shown in Figure 1b, the peak EQE of OLEDs is as high as 40%, with luminous power efficiency of over 100 lm W −1 (without any light extraction structure), which has surpassed most fluorescent lamps (60-90 lm W −1). [6-29] Notably, OLEDs have been the mainstream display in mobile phones due to the remarkable efficiency enhancement in the last three decades. Since 1994, colloidal quantum-dots (QDs) have shown the potential for use in thin-film display due to the high luminous efficiency and special size-tunable color. [30-32] As shown in Figure 1b, a peak EQE value of 22.9% has been achieved for QLEDs. [33-46] Moreover, perovskite is a new family of optoelectronic materials. [47,48] Recent reports have found that metal halide perovskites are one of the most promising light-emitting materials owing to the high charge-carrier mobility, high photoluminescence quantum yield narrow photoluminescent peaks, Transparent light-emitting diodes (LEDs) and solar cells have attracted extensive attention as the most promising optoelectronic devices surpassing conventional opaque displays and photovoltaics. These transparent devices are particularly suitable for special applications including seethrough display and building-integrated photovoltaics, for example, headmounted displays, navigation displays on car windshields, smart windows, roofing, skylights, and facades. This review systematically evaluates the pros and cons of representative transparent conduct...