Thermodynamic, achievable, and realistic efficiency limits of solardriven electrochemical conversion of water and carbon dioxide to fuels are investigated as functions of light-absorber composition and configuration, and catalyst composition. The maximum thermodynamic efficiency at 1-sun illumination for adiabatic electrochemical synthesis of various solar fuels is in the range of 32-42%. Single-, double-, and triple-junction light absorbers are found to be optimal for electrochemical load ranges of 0-0.9 V, 0.9-1.95 V, and 1.95-3.5 V, respectively. Achievable solar-to-fuel (STF) efficiencies are determined using ideal double-and triple-junction light absorbers and the electrochemical load curves for CO 2 reduction on silver and copper cathodes, and water oxidation kinetics over iridium oxide. The maximum achievable STF efficiencies for synthesis gas (H 2 and CO) and Hythane (H 2 and CH 4 ) are 18.4% and 20.3%, respectively. Whereas the realistic STF efficiency of photoelectrochemical cells (PECs) can be as low as 0.8%, tandem PECs and photovoltaic (PV)-electrolyzers can operate at 7.2% under identical operating conditions. We show that the composition and energy content of solar fuels can also be adjusted by tuning the band-gaps of triple-junction light absorbers and/or the ratio of catalyst-to-PV area, and that the synthesis of liquid products and C 2 H 4 have high profitability indices.artificial photosynthesis | electrochemical CO 2 reduction | solar-to-fuel efficiency | photoelectrochemical cells | photovoltaic-electrolyzer T he rapid changes in the global climate during the last century have been widely attributed to the anthropogenic emissions of carbon dioxide produced by combustion of fossil-based fuels (1). Today, the atmospheric concentration of CO 2 is increasing at a rate of ∼1.8 ppm/y, and this rate is expected to increase unless efforts are made to reduce the consumption of fossil energy fuels and to develop means for producing carbon-based fuels sustainably (2). One means for achieving the latter goal is artificial photosynthesis--a process in which solar radiation is used to drive the reduction of CO 2 to fuels (or fuel precursors) and chemicals (3, 4). In an artificial photosynthetic system one or more light absorbers are used to provide photogenerated electrons and holes for the photo/electrocatalytic reduction of carbon dioxide and water to a fuel, which is physically separated from the oxygen produced as a byproduct of water-splitting using an ionconducting membrane. The overall efficiency with which such a system produces fuel depends on the identification, evaluation, and optimization of the components and system configuration.The efficiency of solar-driven, electrochemical reduction of CO 2 can be determined from the intersection of the currentvoltage characteristics of the light absorber and the electrochemical load curve (5-7). This method has been used previously to calculate experimental and achievable solar-to-hydrogen (STH) efficiencies for water-splitting systems (8-10). The factor...