III-V solar cells have become the dominant power generation technology in space, due to their unparalleled high efficiency, reliability in the space environment, and ability to be integrated into very lightweight panels. As remarkable as these attributes are, new types of space III-V solar cells are continually reaching new heights in performance. Commercially-available multijunction solar cells with 30% conversion efficiency under the AMO space spectrum are just around the corner. Understanding of radiation resistance and thermal cycling reliability has reached levels never before attained, and is resulting in new standards of reliability. A flurry of research activity has resulted in very-thin, flexible, and extremely lightweight space solar cells and panels in several groups around the world, capable of being folded or rolled into a smaller stowage volume for launch than has been possible to date. This approach combines the very high efficiency and reliability of III-V multijunction cells with the thin, flexible PV blanket functionality normally associated only with thin-film polycrystalline or amorphous PV technology. This paper discusses the latest developments in III-V space solar cell technology, and explores opportunities for still higher performance in the future.