The fabrication and full characterization of luminescent solar concentrators (LSCs) comprising CdSe core/multishell quantum dots (QDs) is reported. TEM analysis shows that the QDs are well dispersed in the acrylic medium while maintaining a high quantum yield of 45%, resulting in highly transparent and luminescent polymer plates. A detailed optical analysis of the QD-LSCs including absorption, emission, and time-resolved fluorescence measurements is presented. Both silicon and GaAs solar cells attached to the side of the QD-LSCs are used to measure the external quantum efficiency and power conversion efficiency (2.8%) of the devices. Stability tests show only a minor decrease of 4% in photocurrent upon an equivalent of three months outdoor illumination. The optical data are used as input for a ray-trace model that is shown to describe the properties of the QD-LSCs well. The model was then used to extrapolate the properties of the small test devices to predict the power conversion efficiency of a 50 x 50 cm(2) module with a variety of different solar cells. The work described here gives a detailed insight into the promise of QD-based LSCs. (C) 2011 Elsevier B.V. All rights reserved.