Absorption of photons with creates electron-hole pairs, the upward band-diagram arrow. In the depletion region the built-in field drives electrons towards n material and holes towards p material; diffusion also delivers carriers generated within a diffusion length outside that region. Selective contacts collect the two signs. Illumination maintains a nonequilibrium quasi-Fermi-level splitting, allowing a voltage and useful current through an external load; it is the light, rather than the equilibrium barrier, that supplies the energy.
Taking forward diode current as positive, an ideal illuminated junction haspower is delivered where in this convention. Reflection, below-gap transmission, carrier thermalization, recombination and resistive losses limit real conversion; even an ideal single junction has radiative detailed-balance limits.[ref]
Detailed Balance Limit of Efficiency of p-n Junction Solar Cells by William Shockley and Hans-Joachim Queisser. 1961, Journal of Applied Physics 32, pp.510–519: radiative detailed-balance limit
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