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Organic photovoltaic (OPV) cells have shown great potential as renewable energy sources.An organic dye 2,4-bis[4-(N,N-diisobutylamino)-2,6-dihydroxyphenyl] squaraine (DIB-SQ) shows promising propertiesfor photovoltaiccells such as strong absorption in near infrared region (λmax =700 nm)in thin film and deephighest occupied molecular orbital(HOMO) energy level (-5.3 eV).