Light provides the energy supporting algae growth and available radiation must be exploited with the highest possible efficiency to optimize productivity and make microalgae large scale cultivation energetically and economically sustainable. Investigation of the molecular bases influencing light use efficiency is thus seminal for the success of this biotechnology. In this work factors influencing light use efficiency in algal biomass production are reviewed, focusing on how algae genetic engineering and control of light environment within photobioreactors can improve the productivity of large scale cultivation systems.