Agrivoltaics describes concurrent agricultural production of crops and photovoltaic generation of electricity on the same cropland. By using tinted semi‐transparent solar panels, this study introduces a novel element to transform the concept of agrivoltaics from just solar‐sharing to selective utilization of different light wavelengths. Agrivoltaic growth of basil and spinach is tested. When compared with classical agriculture, and based on the feed‐in‐tariff of the experimental location, agrivoltaic co‐generation of biomass and electricity is calculated to result in an estimated financial gross gain up to +2.5% for basil and +35% for spinach. Marketable biomass yields do not change significantly for basil, while a statistically significant loss is observed for spinach. This is accompanied by a relative increase in the protein content for both plants grown under agrivoltaic conditions. Agrivoltaics implemented with tinted solar panels improve the biomass production per unit amount of solar radiation up to 68%, with up to 63% increase in the ratio of leaf and stem biomass to root. Agrivoltaics can enrich the portfolio of farmers, mitigate risks associated with climate, and vastly enhance global photovoltaics capacity without compromising agricultural production.