This paper demonstrates designs of transparent electrodes for polarized light based on semiconductor deep-subwavelength monolithic high-contrast gratings integrated with metal (metalMHCG). We provide theoretical background explaining the phenomena of high transmittance in the gratings and investigate their optimal parameters, which enable above 95% transmittance for sheet resistance of 2 ΩSq-1 and over 90% transmittance for extremely small sheet resistance of 0.04 ΩSq-1 in a broad spectral range below the semiconductor band-gap. The analysis is based on our fully vectorial optical model, which has been verified previously via comparison with the experimental characteristics of similar structures. The transparent electrodes can be realized in any high refractive index material used in optoelectronics and designed for light in spectral ranges starting from ultra-violet with no upper limit for the wavelength of the electromagnetic waves. They not only enable lateral transport of electrons but can also be used as an electric contact for injecting current into a semiconductor.