In this article, we present a detailed theoretical study to predict performance characteristics of single-junction indoor photovoltaic (PV) devices operated under white light emitting diodes (LEDs) having different spectral characteristics. Efficiency limits of both ideal and practical PV converters have been evaluated considering illumination by commercially available white LEDs. The obtained results have been generalized for white LED sources having a wide range of correlated color temperatures (CCTs) and fraction of blue in their corresponding spectrum. Depending on bandgap of the absorber material, both positive and negative correlations are observed between photon conversion efficiency of PV devices and CCT values of the white LED sources. For material bandgaps of ∼1.5 eV or lower, higher photon conversion efficiencies are obtained for warm glow white LEDs. On the contrary, white LEDs characterized to emit cool light are found to be more conducive for PV devices having absorber layer bandgaps of ∼2 eV or higher. The observed characteristics have been explained in terms of linewidth of the main emission peak and relative intensity of blue emission peak of the irradiating white LED spectrum. Based on the analysis of photon yield, three distinct bandgap ranges of the PV absorber material have also been identified, each of which represents different dependence of PV device performances on the white LED spectral characteristics. These results in effect provide the necessary guidelines for designing homojunction, heterojunction, or tandem PV devices suitable for operation under different practical white LED sources.