NOVELTY - A photovoltaic device comprises an epitaxial wafer (2) having layers; a first nanostructure layer with quantum dots; a first conductive layer (6); an active layer containing at least one NP-junction, and is situated between the first and second conductive layers having material exhibiting absorption of radiation; a second conductive layer (8); and a second nanostructured layer (4) situated at the bottom of the photovoltaic cell, which increases the internal reflection inside the substrate.    USE - As a photovoltaic and light emitted diode device (claimed) in solar cell for converting sunlight to electricity.    ADVANTAGE - The photovoltaic device and light emitted diode device are high efficiency nanostructured devices.    DETAILED DESCRIPTION - A photovoltaic device comprises an epitaxial wafer (2) having layers; a first nanostructure layer with quantum dots, where the quantum dots are deposited onto the first nanostructure layer which increases the radiation absorption from the incident solar spectrum; a first conductive layer (6); an active layer containing at least one NP-junction, and is situated between the first and second conductive layers having material exhibiting absorption of radiation; a second conductive layer (8); and a second nanostructured layer (4) situated at the bottom of the photovoltaic cell, which increases the internal reflection inside the substrate. An INDEPENDENT CLAIM is included for a light emitting device comprising an epitaxial wafer having layers; a first nanostructure layer with quantum dots, where the quantum dots are deposited onto the first nanostructure layer for purpose of non-radiative energy transfer in color-conversion emission; a first conductive layer; an active layer having at least one NP-junction, and is situated between the first and second conductive layers of material exhibiting excitation of radiation; a second conductive layer; and a second nanostructured layer situated at the bottom of the device, which increases the reflection from the backside of the substrate.    DESCRIPTION OF DRAWING(S) - The figure shows a view of photovoltaic device comprising layers.    Epitaxial wafer (2)    Second nanostructured layer (4)    First conductive layer (6)    Second conductive layer (8)    Light radiation (9)