In a constant effort to capture effectively more of the spectral range from the sun, multi-junction cells are being investigated. In this context, the marriage of thin film and dye-sensitized solar cells (DSC) PV technologies may be able to offer greater efficiency whilst maintaining the benefits of each individual technology. DSC devices offer advantages in the nature of both the metal oxide photo-electrode and dye absorption bands, which can be tuned to vary the optical performance of this part of a tandem device, while CdTe cells absorb the majority of light above their band-gap in only a few microns of thickness. The key challenge is to assess the optical losses with the goal of reaching a net gain in photocurrent and consequently increased conversion efficiency. This study reports on the influence of optical losses from various parts of the stacked tandem structure using UV-VIS spectrometry and EQE measurements. A net gain in photocurrent was achieved from a model developed for the DSC/CdTe mechanically stacked tandem structure.