The effects of carrier‐carrier scattering resulting from the Coulomb‐potential interaction between two electrons on hot‐carrier solar cells are theoretically studied. Theoretical models and explicit formulas for calculating intraband carrier‐carrier scattering rates, electron‐to‐hole energy transfer rates, Auger recombination rates, and impact ionization generation rates are presented and derived. The numerical calculations from these formulas are obtained, and their effects on hot‐carrier solar cells are investigated. Several findings can be concluded from this study: (1) Intraband electron‐electron scattering and hole‐hole scattering are normally fast enough to randomize carrier distribution in the momentum space and thus maintain quasiequilibrium to establish electron and hole temperatures at a steady state; (2) spectral hole burning in hot‐carrier solar cells can be incurred by fast carrier extraction processes through energy‐selective contacts and slow intraband carrier‐carrier scattering; (3) energy transfer between electrons and holes via intraband electron‐hole scattering cannot guarantee that electrons and holes will maintain the same carrier temperature for hot‐carrier solar cells in all cases, especially if the difference between electron and hole temperatures is smaller than 100 K; and (4) materials with a band‐gap energy larger than 1 eV are favorable as conventional solar cells in which Auger recombination is not significant. On the contrary, materials with a band‐gap energy smaller than 0.5 eV are not suitable for conventional solar cells due to the detrimental effects of Auger recombination. However, they are ideal materials for realizing hot‐carrier solar cells due to beneficial effects of impact ionization generation, although these beneficial effects can be undermined by spectral hole burning.