A polymer solar cell is a flexible solar cell made up of large molecules that has repeating structural units, and produce electrical energy from sunlight by photovoltaic effect. Polymer solar cells has organic solar cells, these are a type of thin film solar cell, other types of polymer solar cells include stable amorphous silicon solar cell. Most of the commercial solar cells are made from a highly purified and refined silicon crystal, and these are similar to the material used for the manufacturing of computer chips and integrated circuits. The complex production process and high manufacturing cost of these silicon solar cells created interest of researches to generate alternative technologies. Compared to silicon solar cells, polymer solar cells are light in weight, easily disposable and less expensive to fabricate, customizable in its molecular level and have less environmental impact. Polymer solar cells can also exhibit transparency, suggesting applications in walls, windows, flexible electronics, etc. The alleviation and understanding of the degradation phenomena is a prerequisite for successful application of polymer solar cells. The polymer solar cells market is anticipated to witness a healthy CAGR in the forecast period.