An elemental-sulfur-based synthesis is reported, which, combined with processing to improve the size dispersion and passivation, results in a low-cost high-quality platform for small-bandgap PbS-CQD-based devices. Size-selective precipitation and cadmium chloride passivation are used to improve the power conversion efficiency of 1 eV bandgap CQD photovoltaic devices dramatically, which leads to record power conversion efficiency for a 1 eV PbS CQD solar cell of 5.4%.