Multi‐junction solar cells are widely used in high‐concentration photovoltaic systems (HCPV) attaining the highest efficiencies in photovoltaic energy generation. This technology is more dependent on the spectral variations of the impinging Direct Normal Irradiance (DNI) than conventional photovoltaics based on silicon solar cells and consequently demands a deeper knowledge of the solar resource characteristics. This article explores the capabilities of spectral indexes, namely, spectral matching ratios (SMR), to spectrally characterize the annual irradiation reaching a particular location on the Earth and to provide the necessary information for the spectral optimization of a MJ solar cell in that location as a starting point for CPV module spectral tuning. Additionally, the relationship between such indexes and the atmosphere parameters, such as the aerosol optical depth (AOD), precipitable water (PW), and air mass (AM), is discussed using radiative transfer models such as SMARTS to generate the spectrally resolved DNI. The network of ground‐based sun and sky‐scanning radiometers AErosol RObotic NETwork (AERONET) is exploited to obtain the atmosphere parameters for a selected bunch of 34 sites worldwide. Finally, the SMR indexes are obtained for every location, and a comparative analysis is carried out for four architectures of triple junction solar cells, covering both lattice match and metamorphic technologies. The differences found among cell technologies are much less significant than among locations. Copyright © 2016 John Wiley & Sons, Ltd.