The preparation of pure crystalline oxide nanoparticles (with controlled composition, size and shape) and formation of stable suspensions free of complex organic precursors was developed and optimized at room temperature (or below 100 degrees C). This reproducible water and ethanol synthesis and solution stabilization of oxide nanoparticles is based on Mn3-xCoxO4 (0 <= x < 3) composition materials. To our knowledge, this is the first study on the complete Mn-Co-O spinel system synthesized at low temperature. The main hydrodynamic parameters, as well as the physical and chemical properties that control the oxide precipitation and nanoparticle size and morphology were characterized in detail for the family end member Mn3O4 and used for the other compositions. X-ray diffraction and Scanning Electron Microscopy images showed the influence of the alkaline solution concentration, pH, temperature and solvent on the nanoparticles properties. Neutron diffraction was used for determining the cationic distribution in two compositions, i.e. CoMn2O4 and MnCo2O4. While the tetrahedral site is mainly occupied by Co2+, four types of cations were determined for the octahedral sites. Zeta potential and rheological measurements were performed to determine the stability region of nanoparticles in aqueous solution. This innovative and low cost process was used to produce homogenous and crystalline metal oxide thin films that can be used as solar absorbers in various applications. Their optical properties were characterized. A second absorption edge, due to cobalt and observed in the visible region, is attributed to an intermediate band gap, which is a very important feature, especially for future solar cells. This sustainable synthesis of oxide nanoparticles and thin film preparation procedure is applicable to other oxide families. (C) 2015 Elsevier B.V. All rights reserved.