Used primarily in organic photovoltaics, this compound acts as an electron acceptor in bulk heterojunction solar cells. It facilitates efficient exciton dissociation, charge separation, and transport, contributing to improved power conversion efficiencies. This makes it valuable in the development of flexible and lightweight solar panels. Additionally, it is employed in research to enhance the stability and performance of organic electronic devices. Its solubility in common organic solvents enables straightforward processing in thin-film applications.