Photovoltage and photocurrents below theoretical limits in dye-sensitized photoelectrochemical solar energy conversion systems are usually attributed to electron loss processes such as dye–electron and electrolyte–electron recombination reactions within the porous photoanode. Whether recombination is a major loss mechanism is examined here, using a multiscale reaction–diffusion computational model to evaluate system characteristics. The dye-sensitized solar cell with an I⁻/I₃⁻ redox couple is chosen as a simple, representative model system because of the extensive information available for it. Two photoanode architectures with dye excitation frequencies spanning 1–25 s⁻¹ are examined, assuming two distinct recombination mechanisms. The simulation results show that although electrolyte–electron reactions are very efficient, they do not significantly impact photoanode performance within the system as defined. This is because the solution-phase electrolyte chemistry plays a key role in mitigating electron losses through coupled reactions that produce I⁻ within the photoanode pores, thereby cycling the electrolyte species without requiring that all electrolyte reduction reactions take place at the more distantly located cathode. This is a functionally adaptive response of the chemistry that may be partly responsible for the great success of this redox couple for dye-sensitized solar cells. The simulation results provide predictions that can be tested experimentally.