NOVELTY - Metal oxide dispersion comprises (a) at least 25 wt.% of metal oxide particle comprising one or more oxides of titania, cerium oxide, zinc oxide or zirconium dioxide, where the metal oxide particle exhibits an aggregate diameter of 20-120 nm; and (b) a liquid phase comprising 90-99.5 wt.% of one or more alkanol compound (I), 0.5-10 wt.% of one or more alpha , beta -unsaturated 4-12C-carboxylic acid, 0-2 wt.% of one or more alkane diol compound (II), maximum 5 wt.% of water and maximum 2 wt.% of dispersing additive consisting of e.g. polyoxyethylenated alkyl ether phosphate.    USE - The metal oxide dispersion is useful for preparing dye solar cells (claimed).    ADVANTAGE - The metal oxide dispersion: is free of substances that can cause cracks in the layer during thermal treatment; and exhibits good sedimentation properties and low viscosity and uniform particle size distribution.    DETAILED DESCRIPTION - Metal oxide dispersion comprises (a) at least 25 wt.% of metal oxide particle comprising one or more oxides of titania, cerium oxide, zinc oxide or zirconium dioxide, where the metal oxide particle exhibits an aggregate diameter of 20-120 nm; and (b) a liquid phase comprising 90-99.5 wt.% of one or more alkanol compound of formula (CnH2n+1OH) (I), 0.5-10 wt.% of one or more alpha , beta -unsaturated 4-12C-carboxylic acid, 0-2 wt.% of one or more alkane diol compound of formula (OH(CH2)xOH) (II), maximum 5 wt.% of water and maximum 2 wt.% of dispersing additive consisting of polyoxyethylenated alkyl ether phosphate, polyoxyethylenated aryl ether phosphate, alkyl ammonium salt of block copolymer with acidic groups, polyalkylene glycol, polyalkyleneimine or polyalkylene alcohol.    n, x = 2-4.    An INDEPENDENT CLAIM is included for preparing the metal oxide dispersion comprising preparing a predispersion comprising (a) and (b); feeding the obtained predispersion into a high-pressure grinding and separating into at least two partial streams, where: the partial streams at a pressure of at least 500 bar, preferably 2000-4000 bar are relaxed over a nozzle and collide in a gas-or liquid-filled reaction chamber; and optionally the high-pressure grinding is repeated for many times.