A multi-layer solar energy collector of improved stability comprising: (1) a substrate of quartz, silicate glass, stainless steel or aluminum-containing ferritic alloy; (2) a solar absorptive layer comprising silver, copper oxide, rhodium/rhodium oxide and 0-15% by weight of platinum; (3) an interlayer comprising silver or silver/platinum; and (4) an optional external anti-reflective coating, plus a method for preparing a thermally stable multi-layered solar collector, in which the absorptive layer is undercoated with a thin film of silver or silver/platinum to obtain an improved conductor-dielectric tandem.