<SUBMISSION>
<ACCESSION-NUMBER>0001179110-06-015104
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20060711
<FILING-DATE>20060713
<DATE-OF-FILING-DATE-CHANGE>20060713
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>Misra Ashutosh
<CIK>0001368037
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>001-32919
<FILM-NUMBER>06960155
</FILING-VALUES>
<BUSINESS-ADDRESS>
<PHONE>3034201141
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>C/O ASCENT SOLAR TECHNOLOGIES, INC.
<STREET2>8120 SHAFFER PARKWAY
<CITY>LITTLETON
<STATE>CO
<ZIP>80127
</MAIL-ADDRESS>
</REPORTING-OWNER>
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>Ascent Solar Technologies, Inc.
<CIK>0001350102
<ASSIGNED-SIC>3674
<IRS-NUMBER>203672603
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>8120 SHAFFER PARKWAY
<CITY>LITTLETON
<STATE>CO
<ZIP>80127
<PHONE>303 420 1141
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>8120 SHAFFER PARKWAY
<CITY>LITTLETON
<STATE>CO
<ZIP>80127
</MAIL-ADDRESS>
</ISSUER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-07-11</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001350102</issuerCik>
        <issuerName>Ascent Solar Technologies, Inc.</issuerName>
        <issuerTradingSymbol>ASTI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001368037</rptOwnerCik>
            <rptOwnerName>Misra Ashutosh</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ASCENT SOLAR TECHNOLOGIES, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>8120 SHAFFER PARKWAY</rptOwnerStreet2>
            <rptOwnerCity>LITTLETON</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80127</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Unit</value>
            </securityTitle>
            <transactionDate>
                <value>2006-07-11</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>5.50</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>52000</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Each unit consists of one share of common stock, one Class A warrant and two Class B warrants.</footnote>
        <footnote id="F2">Consists of: 50,000 shares of common stock; and 2,000 shares of common stock in the units purchased.  Mr. Misra also holds 2,000 Class A warrants and 4,000 Class B warrants that are part of the units purchased.  Mr. Misra also holds options to purchase 20,000 shares of common stock, as reported on his Form 3.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>David C. Wang, as attorney-in-fact for Ashutosh Misra</signatureName>
        <signatureDate>2006-07-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
