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The present universal energy framework and expenditure rate are considerably more startling because of the massive increase in electrical power demand. Comprehensive generation through conventional fossil fuels is one of the fundamental causes and contributors to several environmental problems. Therefore, there has arisen a necessity for ecologically sound and sustainable alternative energy sources. Renewable energy resources (RER) may be extremely functional for environmental and economic goals. Solar energy is the most auspicious of RER and this industry has flourished enormously during the last decade. Photovoltaic cells are spreading in popularity because they are sustainable, clean, and efficient modes of power generation. Researchers are endeavoring meticulously to select superior photovoltaic materials. In this paper, a real-time multi-objective solar-thermal power dispatch problem is framed and optimized for two different photovoltaic materials by using the novel α- constrained simplex method (ACSM). The presented problem is developed to satisfy cost and environmental objectives for Tirumala in the Andhra Pradesh state of India, for two test systems. In the first test system, polycrystalline silicon is used as the photovoltaic material, whereas Copper Indium Gallium Selenide is employed in the second test system. The results of both test systems are compared with each other to procure the finer material. Also, the outturns attained by using ACSM are collated with particle swarm optimization (PSO) and the evolutionary method (EM). The results reveal the precedence of ACSM over PSO and EM. [ABSTRACT FROM AUTHOR]