An indium phosphide photovoltaic cell is provided where one or more quantum wells are introduced between the conventional p-conductivity and n-conductivity indium phosphide layer. The approach allows the cell to convert the light over a wider range of wavelengths than a conventional single junction cell and in particular convert efficiently transparency losses of the indium phosphide conventional cell. The approach hence may be used to increase the cell current output. A method of fabrication of photovoltaic devices is provided where ternary InAsP and InGaAs alloys are used as well material in the quantum well region and results in an increase of the cell current output.