Solar cell substrates require high optical transparency but also prefer high optical haze to increase the light scattering and consequently the absorption in the active materials. Unfortunately, there is a trade-off between these optical properties, which is exemplified by common transparent paper substrates exhibiting a transparency of about 90% yet a low optical haze (<20%). In this work, we introduce a novel transparent paper made of wood fibers that displays both ultrahigh optical transparency (∼ 96%) and ultrahigh haze (∼ 60%), thus delivering an optimal substrate design for solar cell devices. Compared to previously demonstrated nanopaper composed of wood-based cellulose nanofibers, our novel transparent paper has better dual performance in transmittance and haze but also is fabricated at a much lower cost. This high-performance, low-cost transparent paper is a potentially revolutionary material that may influence a new generation of environmentally friendly printed electronics.