In the last decade, revolutions in photonic material design and large-area nanostructure fabrication have given researchers and technologists tools to enable a new era of ultrahigh-efficiency photovoltaics. Quantum cutting has received much attention as a potential approach to enhance the photovoltaic conversion efficiency of solar cell in the recent decades. In this article, we review the phenomena, mechanisms, and design of the quantum cutting processes, focusing on the promising applications of the transparent glasses and glass ceramic materials as the down-converter of solar spectrum. We discuss the gaps between the current theoretical analysis and the practical applications of the quantum-cutting materials. To concave the negative effects of using the quantum-cutting materials as a down-converter on the front surface of the solar cell, much attention should be given to the choice of material and improvement of the material properties as well as the integration of photonic nanostructures and circuits on the solar cell.