If it was me, I would use one long woven shade the length of the wall mounted at ceiling height, it can be released down to the mantel to blck the upper windowlight when needed or go custom and just get the length for the transom windows. Then run one long drapery rod (decorative wood or iron) the length of the wall over that with long, lined side panels that will run from ceiling to floor and from corner of wall to fireplace surround. Most of the time they will bepulled back as decorative, but when you need them, you can pull them to close out the large windows light.

Hi! May I ask why you want to cover the transom windows? I assume it is not a privacy issue since they are high up on the walls. If you do end up hanging draperies, It would be best to have them mounted above the top windows. Think a bit about this as these panels will most likely need to be custom, and could get a bit pricey.

Are you concerned about light? I agree with a pair of panels that run to the ceiling, but other than that you dont have to do anything with the rest of the windows.....

maybe I should clarify.... I initially was not covering the transoms. I was going to put either panel or valance/panel combo on the two lower windows. However I don't want to squash the wall by neglecting the height, so was thinking to do panels the entire height of windows. I would like to limit the light that comes in through the large transom, possibly with window film. Just weighing options.

I would put plantation sutters or blinds on all of them. For softness, color and pattern, you can do a floor to ceiling stationary panel on each side. Search the box above for two story window treatments to get other ideas.

This could be interesting with a similar swag in the center.