<p>Low efficiency commercially available 1st generation solar cells are not enough to meet future energy demands. 3rd generation quantum dot solar cells (QDSCs) offer a promising alternative. This theoretical study involving SCAPS-1D simulation tool provides a comprehensive optimization of multiple QDSCs and their parameters to enhance power conversion efficiency (PCE). The study revealed: Tin Oxide (SnO₂) as electron transport layer (ETL), Cadmium Sulfide (CdS) as the buffer layer, Lead Sulfide (PbS) quantum dots as the absorber, and Cadmium Telluride (CdTe) as the hole transport layer (HTL) is capable of providing a very high PCE. However, optimizing the device configuration and its parameters is not enough to ensure high performance. Therefore, critical parameters such as temperature, back contact work function were meticulously adjusted to maximize performance. To address efficiency losses due to parasitic series and shunt resistances, the study introduced an innovative approach: incorporation of an optical filter in the back contact of the QDSC. This filter upon optimization compensated the efficiency loss due to parasitic resistances, boosting the efficiency to an impressive 24.08%. The findings not only presents a promising avenue for the development of high-efficiency QDSCs but also provides valuable insights for future research in photovoltaic technologies.</p>