Abstract Efficient, low‐cost, and low‐embodied energy photovoltaics are key enablers of the global decarbonization agenda. In addition to the market‐leading crystalline silicon technology, several other promising candidates are under active investigation with the perovskites leading the way with single‐junction efficiencies exceeding 25% at the lab‐scale. So‐called organic photovoltaics (solar cells based upon organic semiconductors), particularly those that can be solution processed, have long promised the Nirvana of ultralow cost and very short energy payback times. However, relatively low efficiencies, poor long‐term stability, and issues with manufacturing at scale have so far prevented truly meaningful commercialization of the technology. The recent emergence of the so‐called nonfullerene electron acceptors is potentially about to shift this dynamic—they have delivered a step change in performance in a relatively short period of time. In this Essay, the basic properties of these new materials, their pros and cons, what we know and what we do not know are explored.