This paper presents a thorough numerical investigation focused on optimizing the efficiency of quantum-well intermediate-band solar cells (QW-IBSCs) based on III-nitride materials. The optimization strategy encompasses manipulating confinement potential energy, controlling hydrostatic pressure, adjusting compositions, and varying thickness. The built-in electric fields in (In, Ga)N alloys and heavy-hole levels are considered to enhance the results’ accuracy. The finite element method (FEM) and Python 3.8 are employed to numerically solve the Schrödinger equation within the effective mass theory framework. This study reveals that meticulous design can achieve a theoretical photovoltaic efficiency of quantum-well intermediate-band solar cells (QW-IBSCs) that surpasses the Shockley–Queisser limit. Moreover, reducing the thickness of the layers enhances the light-absorbing capacity and, therefore, contributes to efficiency improvement. Additionally, the shape of the confinement potential significantly influences the device’s performance. This work is critical for society, as it represents a significant advancement in sustainable energy solutions, holding the promise of enhancing both the efficiency and accessibility of solar power generation. Consequently, this research stands at the forefront of innovation, offering a tangible and impactful contribution toward a greener and more sustainable energy future.