In this work, silicon nanocrystal based heterostuctured solar cell with quantum efficiency (0.55) % has been constructed and characterized. A 100 nm thick Ag2O nanocrystal thin film was grown on nanocrystallines Silicon (Ps) by rapid photo thermal oxidation of pulsed laser deposited Ag metal film, using a halogen lamp at 720K for 90s in static air. X-ray diffraction, Surface morphology and illuminated I-V characteristics were investigated and discussed.