Photocatalytic approaches for the production of solar hydrogen or hydrocarbons are interesting as they provide a sustainable alternative to fossil fuels. Research has been focused on water splitting and on the synthesis of photocatalyst materials and compounds, and their characterization. The material-related challenges include the synthesis and design of photocatalysts that can absorb visible light at a high quantum efficiency, cocatalysts that are selective and can accelerate the reduction and/or oxidation reactions, and protection layers that facilitate migration of the minority carriers to the surface-active sites while reducing charge recombination and photo-corrosion. Less attention has been paid to the conceptual design of reactors, and how design and coupled transport can affect the material choice and requirements. This perspective discusses the various possible conceptual designs for particle suspension reactors and the related implications on the material requirements to achieve high energy conversion efficiencies. We establish a link between the thermodynamic limits, materials requirements, and conceptual reactor designs, quantify changes in material requirements when more realistic operation and losses are considered, and compare the theory-derived guidelines with the ongoing materials research activity.