We report the effect of the quantum dot aspect ratio on the sub‐gap absorption properties of GaAs/AlGaAs quantum dot intermediate band solar cells. We have grown AlGaAs solar cells containing GaAs quantum dots made by droplet epitaxy. This technique allows the realization of strain‐free nanostructures with lattice matched materials, enabling the possibility to tune the size, shape, and aspect ratio to engineer the optical and electrical properties of devices. Intermediate band solar cells have been grown with different dot aspect ratio, thus tuning the energy levels of the intermediate band. Here, we show how it is possible to tune the sub‐gap absorption spectrum and the extraction of charge carriers from the intermediate band states by simply changing the aspect ratio of the dots. The tradeoff between thermal and optical extraction is in fact fundamental for the correct functioning of the intermediate band solar cells. The combination of the two effects makes the photonic extraction mechanism from the quantum dots increasingly dominant at room temperature, allowing for a reduction of the open circuit voltage of only 14 mV, compared to the reference cell.