This article shows the potential of Chemical Beam Epitaxy (CBE) as a powerful technique for manufacturing of modern III-V photovoltaic energy conversion devices. The InP-based materials are used as illustration. CBE is a hybrid growth technique that merges the high vacuum environment from Molecular Beam Epitaxy (MBE) with the versatility of gases used in Metal-Organic Vapor Phase Epitaxy (MOVPE). Safety issues as well as advantages of CBE over other common techniques are emphasized. After a brief introduction on the photovoltaic area, the growth technique will be described and CBE-grown devices such as tunnel diodes, single InP and InGaAs solar cells, InP/InGaAs tandem solar cells, as well as pioneering p-i-n Multi-Quantum Well solar cells, will be reviewed in details. Devices with higher performances and higher radiation resistance compared to traditional ones are demonstrated.