Time Delayed Collection Field (TDCF) and Bias Assisted Charge Extraction (BACE) experiments are used to investigate the charge carrier dynamics in PbS colloidal quantum dot solar cells. We find that free charge carrier creation is slightly field dependent, thus providing an upper limit to the fill factor. BACE measurements reveal a rather high effective mobility of 2 × 10 cm²/Vs, meaning that charge extraction is efficient. On the other hand, a rather high steady state non-geminate recombination coefficient of 3 × 10 cm³/s is measured. We, therefore, propose rapid free charge recombination to constitute the main origin for the limited efficiency of PbS colloidal quantum dots cells.Colloidal quantum dots (CQDs) are a promising class of materials for optoelectronic applications due to their well-tunable optical and electronic properties. In the last years improvement in the quality of the CQDs, as a consequence of better and cleaner synthetic processes, has stimulated their use in a variety of applications from light emitting diodes 1 to solar cells 2,3 , field effect transistors 4-6 and photocatalytic devices 7,8 . The size-induced quantum confinement in the quantum dots can be tuned via precise tuning of the QDs dimensions. This quantum confinement can be partially maintained even in strongly coupled CQD solids 9 . Strong coupling is achieved through the ligand exchange process, by which the original, bulky organic ligands are replaced with shorter ones, enhancing the electronic coupling. Lead chalcogenide quantum dot solids exhibit a very broad absorption range, extending into the near infrared region 10 . This makes them particularly attractive for photovoltaic devices with high photocurrents 11 . From the early Schottky devices 9,11 , which show limited open circuit voltage (V oc ) and fill factors (FF), great improvement in the device structure and in the choice of ligands led to a record PbS CQD solar cell with efficiencies up to 10%. That record device showed a short circuit current of up to 22 mA/cm 2 , V oc of 0.63 V and FF of 0.7 12 . Still, the device performance seems to be limited by the V OC and the FF, purportedly due to recombination