The work reports on the interaction of the photo electrodes with the electrolytes and dyes since it is imperative to investigate the degradation behavior of the transparent conducting electrodes in terms of structural, optical and electrical properties along with the corrosion resistance behavior. Three electrodes, one indium tin oxide (ITO) and two aluminium doped zinc oxide (AZO), two dyes (Eosin Yellow and Ruthenium Red), and two electrolytes, potassium iodide (KI) and lithium iodide (LiI) were used in this investigation. Twelve solar cells were fabricated with the aforementioned combination of electrodes, dyes and electrolytes. Open circuit voltage (Voc) of the fabricated cells as a function of time (for 30 days) were recorded. Changes in the structure and elemental composition of the electrodes after interaction with the dye and electrolyte were analyzed using X-Ray Diffraction and EDX, respectively. Transparency and sheet resistance of the electrodes before and after interaction with electrolytes and dyes was observed. Corrosion behavior of the three electrodes was studied using an electrochemical analyzer with KI and LiI electrolytes.