Dye-sensitized solar cells (DSCs) represent a relatively new photovoltaic technology with great potential: investment costs for initiating production are low and manufacturing costs below 0.5 US$/W peak are predicted. Furthermore, DSC offers the possibility of various colors and attractive designs, such as semitransparent modules. Record solar cell efficiencies are 11% for DSCs containing liquid redox electrolyte and 6% for DSCs with solid hole conductors. Promising stability data suggesting more than 20 years lifetime has been achieved. This paper presents the Center for Molecular Devices (CMD) in Sweden, which has as its objective to investigate and develop DSCs. Using a multi-disciplinary approach, significant advances in the scientific understanding of DSCs have been made, such as the demonstration of the presence of an internal electric field at the semiconductor / dye / electrolyte interface. Furthermore, novel components, such as triphenylamine-based dyes and cobalt-based mediator have been successfully tested. Finally, a monolithic DSC module technology with good performance is presented.