An impressive record efficiency value of 33.3 % for a silicon-based multi-junction solar cell was achieved at Fraunhofer ISE with a III-V-on-silicon tandem solar cell. But how does this type of cell perform at the module level? And what is the energy yield of modules with multi-junction solar cells in comparison to single-junction solar cells, if a complete year and the solar radiation at a specific location is taken into account? These questions are also very important for the emerging perovskite-on-silicon tandem solar cells.