Temperature characteristics of an InGaP/InGaAs/Ge triple-junction solar cell were analyzed in detail using an equivalent circuit calculation. The current–voltage (I–V) characteristics of single-junction solar cells (InGaP, InGaAs, Ge solar cells) were measured at various temperatures. Fitting of I–V curves between measured and calculated data was carried out, and the diode parameters and temperature exponents of the single-junction solar cells were extracted. The parameters for each single-junction solar cell were used in the equivalent circuit model for the triple-junction solar cell, and calculations of solar cell performance were carried out. Measured and calculated results of the I–V characteristics at various temperatures agreed well.