A design of solar cells with reduced junction area on the cell surface is investigated for reduction of saturation current and increase in open‐circuit voltage. Equidiameter dot junctions distributed across the surface of the cell offer an efficient alternative, with variations in dot diameter and in the spacing between dots giving the required variations in the ratio of junction area to total surface area. A simplified analysis for short‐circuit current and other cell parameters, which enables cell design optimization, is presented. Experimental solar‐cell performance results, as functions of different area ratios, are presented and compared with the model. It is shown that saturation current reduction is possible for achieving efficiencies as high as 18% in flat‐plate terrestrial applications.