Thin-film silicon cells produced on crystalline silicon substrates have the potential to achieve high cell efficiencies at low cost. We have used a modified liquid-phase epitaxy growth process to produce very smooth, high-quality silicon films on multicrystalline silicon substrates. Photoconductivity decay measurements indicate that the minority carrier lifetimes in these layers are at least 10 mu s, sufficient to achieve cell efficiencies in excess of 16%. This efficiency potential is confirmed in small area cells, which have displayed efficiencies up to 15.4%. Further improvements up to 17% efficiency are possible in the short term, even without the introduction of any light-trapping schemes into the device structure.