  Photon recycling is required for a solar cell to achieve an open-circuit
voltage ($V_{OC}$) and power conversion efficiency (PCE) approaching the
Shockley-Queisser theoretical limit. In metal halide perovskite solar cells,
the achievable performance gains from photon recycling remain uncertain due to
high variability in perovskite material quality and the non-radiative
recombination rate ($k_{1}$). In this work, we study state-of-the-art
$\textrm{Cs}_{0.05}(\textrm{MA}_{0.17}\textrm{FA}_{0.83})_{0.95}\textrm{Pb}(\textrm{I}_{0.83}\textrm{Br}_{0.17})_{3}$
films and analyze the impact of varying non-radiative recombination rates on
photon recycling and device performance. Importantly, we predict the impact of
photon recycling at the maximum power point (MPP), demonstrating an absolute
PCE increase of up to 2.0% in the radiative limit, primarily due to a 77 mV
increase in $V_{MPP}$. Even with finite non-radiative recombination, benefits
from photon recycling can be achieved when non-radiative lifetimes and external
LED electroluminescence efficiencies measured at open-circuit,
$Q_{e}^{LED}(\textrm{V}_{OC})$, exceed 2 $\mu$s and 10%, respectively. This
analysis clarifies the opportunity to fully exploit photon recycling to push
the real-world performance of perovskite solar cells toward theoretical limits.
