The production of power using solar panels is often regarded as having no CO2 emissions. A deeper examination of the solar panel system's life cycle, however, reveals that the process energy needed to produce the solar panel itself—which needs energy input from a fossil power plant—is the major activity that contributes to CO2 emissions. The CO2 emissions produced throughout the manufacture process should ideally be significantly lower and able to offset the CO2 emissions produced after the solar panel has operated. With 1643.28 kg of CO2 per m2 of dye solar cell (DSC) panel after 20 years of solar panel life, this paper highlights the amount of CO2 saved. This third generation PV's emissions of CO2 were found to be almost 50% lower than those of silicon-based PV when compared to the published statistics.