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The most efficient dye-sensitized solar cells (DSSCs) have had essentially the same configuration (nanoparticle TiO2 sensitized with [Ru(4,4′-dicarboxy-2,2′-bipyridine)2(NCS)2] in contact with I3−/I−) for the last 17 years. In this article we outline the strategies for improving each of the three major photo-relevant components of a DSSC, review literature reports consistent with these strategies and suggest future directions. Finally we explore the potential of future generation DSSCs for advancing energy-conversion performance.