Due to its high absorption coefficient and variable bandgap, InGaN is being intensively studied for photovoltaic applications. Growth of thick homogenous InGaN absorbers is challenging due to relaxation, clustering, and transition from 2D to 3D growth. These issues can be avoided by a semibulk multilayer structure. In this work, we analyze InGaN-based semibulk-structured solar cells in detail. We show that for indium content lower than 15%, GaN interlayers' thickness has no influence on carrier transport due to the low barrier height. A conversion efficiency of 2.4% can be expected for this indium content. However, for higher indium content (15-30%), we show that the thinner the GaN interlayers, the better the conversion efficiency. Beyond 30% of indium, the conversion efficiency is hindered by the barriers' important height even for very thin thicknesses of GaN interlayers. We show also that, for semibulk structure, both growth direction (N-face and metal-face) have similar impact on efficiency. This theoretical study gives the guidelines for the fabrication of InGaN-based solar cells that can be used as a wide-bandgap top cell in multijunction solar cells.