Photochromic dye-sensitized solar cells (DSSCs) are novel semi-transparent photovoltaic devices that self-adjust their optical properties to the irradiation conditions, a feature that makes them especially suitable for building integrated photovoltaics. These novel solar cells have already achieved efficiencies above 4%, and there are multiple pathways to improve the performance. In this work, we conduct a full characterization of DSSCs with the photochromic dye NPI, combining electrical impedance spectroscopy (EIS) and intensity-modulated photocurrent spectroscopy (IMPS). We argue that the inherent properties of the photochromic dye, which result in a modification of the functioning of the solar cell by the optical excitation that also acts as a probe, pose unique challenges to the interpretation of the results using conventional models. Absorption of light in the visible range significantly increases when the NPI dye is in the activated state; however, the recombination rate also increases, thus limiting the efficiency. We identify and quantify the mechanism of enhanced recombination when the photochromic dye is activated using a combination of EIS and IMPS. From the comparison to a state-of-the-art reference dye (RK1), we were able to detect a new feature in the IMPS spectrum that is associated with the optical activation of the photochromic dye, providing a useful tool for assessing the electronic behavior ofthe device under different conditions of light excitation. This study provides guidelines to adequate characterization protocols of photochromic solar cells and essential insights on the interfacial electronic processes.