A multi-layer thin film stack, particularly suitable as a component of a solar cell, is deposited on a transparent dielectric substrate. The multi-layer film stack comprises a transparent electrically conductive metal oxide layer deposited over the dielectric substrate, the conductive metal oxide layer having a refractive index less than 2.0, a light transmittance optimizing interlayer having a refractive index between 2.3 and 3.5, deposited over the electrically conductive metal oxide layer, and a silicon layer having a refractive index of at least 4.5 deposited over the light transmittance optimizing interlayer. The film stack can be deposited by any suitable method, but deposition of each of these layers by atmospheric chemical vapor deposition is preferred.