One of the most important criteria to design more than 30% efficient III–V compound/Si based dual junction solar cell is that we must design atleast 20% efficient III–V compound material top cell. In this regard, we designed a bandgap engineered GaAs0.95P0.05 single junction solar cell with reduced bandgap of (E
g
) = 1.48 eV. Reducing the bandgap from 1.72 eV to 1.48 eV for GaAs0.95P0.05 cell leads to generate higher short circuit current, while having the tradeoff with the open circuit voltage. Due to small change in lattice constant of GaAs0.95P0.05 cell, some recombination is observed near the junction area. Although the minimal degradation is observed in open circuit voltage, the higher short circuit current drives the overall efficiency of the GaAs0.95P0.05 single junction solar cell. The designed solar cell provides an extended internal absorption for longer wavelength of spectrum. The high electron mobility of 8500 cm2 V–S−1 was observed with very high electron to hole mobility ratio of 21.25. The optimization of the cell is done using two back surface field layers (AlInP and AlGaInP) of higher bandgap material. The high short circuit current density of J
SC
= 25.93 mA cm−2 with V
OC
= 1.1635 V achieved by the designed cell with the highest efficiency of η = 25%. The solar cell is irradiated under 1-Sun solar irradiation in the AM1.5 G environment providing 1000 W m−2 of power spectral density. The External and Internal Quantum efficiency of more than 95% is achieved by the designed solar cell.