In this study, the impact of various growth parameters, such as wafer temperature, device structures, and substrate misorientation, on the quality of InGaP epitaxial layers and solar cells grown in a planetary MOVPE reactor using TBP as a P source were investigated and optimized. Results showed that the carrier lifetime in unintentionally n-doped InGaP significantly decreased as the growth temperature increased from 560 to 590 °C. At temperatures above 600 °C, the growth of InGaP was unsuccessful due to extremely rough surface morphology. The study revealed that InGaP rear homojunction and rear heterojunction solar cells using n-type InGaP base layers displayed improved photo-carrier collection and performance compared to traditional front junction solar cells with p-type InGaP base layers. Notably, InGaP grown on GaAs (001) with a 5° miscut towards (111)A was found to have better quality, while InGaP grown on GaAs (001) with a 6° tilt towards (111)B had worse results in terms of carrier lifetime, PL intensity, and solar cell performance.