NOVELTY - A fused subphthalocyanine dimer compound (I) is utilized as a photo- and electroactive compound for the preparation of photovoltaic devices.    USE - Fused subphthalocyanine dimer compound (I) is utilized as a photo- and electroactive compound for the preparation of photovoltaic devices i.e. small molecule solar cell, tandem photovoltaic device, nanocrystalline semiconductor, organic or hybrid solar cell such as organic or hybrid solar cell (all claimed).    ADVANTAGE - The dimer compound (I) has improved optical and chemical stability, processability, efficient solar light absorption, low aggregation and evaporation and anchoring to polymeric or inorganic substrates capabilities.    DETAILED DESCRIPTION - A fused subphthalocyanine dimer compound (I) is utilized as a photo- and electroactive compound for the preparation of photovoltaic devices.    R1, R2=halo comprising fluorine, bromine and iodine, CN, azido group, carboxylic group, COH, nitro group, 1-16C alkyl, OR3, SR3 or N(R3)2;    R3=1-16C alkyl, phenyl, phenoxy, or thiophenoxy (all optionally substituted in any one of their positions with one or two halogen atoms comprising fluorine, chlorine, bromine or iodine, one or two alkyl groups R3, one or two OR3 groups, one or two SR3 groups, or one or two N(R3)2 groups).    INDEPENDENT CLAIMS are also included for the following:    (1) an organic or hybrid solar cell comprising the fused subphthalocyanine dimer compound (I)    (2) a hybrid solar cell comprising the combination of a fused subphthalocyanine dimer with a dye or organic or inorganic material    (3) a method for preparing a photovoltaic device, which involves providing a cathode, providing an anode, and providing a photoactive region including an electron donor material and an electron acceptor material, between the cathode and anode, where the electron acceptor material comprises the compound (I)    (4) a photoactive material including an electron donor material and an electron acceptor material comprising the fused subphthalocyanine dimer compound (I)    (5) a polymer, oligomer or copolymer covalently bound to a fused subphthalocyanine dimer (I).