III-V semiconductors, GaAs and in particular InGaP, are used in many different electronic applications, such as high power and high frequency devices, laser diodes and high brightness LED. Their direct bandgap and high reliability make them ideal candidates for the realisation of high efficiency solar cells: in the past years they have been successfully used as power sources for satellites in space, where they are able to produce electricity from sunlight with an overall efficiency of around 30%. Nowadays, the use of arsenides and phosphides as photovoltaic (PV) devices is confined only to space applications since their price is much higher than conventional Si flat panel modules, the leading PV market technology. But with the introduction of multijunction solar cells capable of operating in high concentration solar light, the area and, therefore, the cost of these cells can be reduced and will eventually find an application and market also on Earth. This article will review the situation of semiconductor solar cell materials, focusing on Si, GaAs, InGaP and multijunction solar cells and will discuss future trends and possibilities of bringing III-V technology from space to Earth