Due to their high transparency, electrodes fabricated from conductive polymers are often implemented in semitransparent organic solar cells. Opaque solar cells usually employ metal back electrodes with high reflectivity for best photon confinement in the light‐harvesting layer. Herein, a bilayer back electrode comprising conductive polymers and nanofoamed poly(methyl methacrylate) (PMMA) is investigated, the latter of which creates diffuse reflection of the incoming light. By tuning the thickness of the nanofoamed PMMA layer, absorption and transmission of the solar cells can be tailored from opaque to vastly transparent. Due to its diffusive character, this versatile electrode enhances the light absorption in the wavelength regimes with lower absorption coefficient. The solar cells are particularly suited for deployment in frosted window applications.