A fast and accurate principal component-based radiative transfer model in the solar spectral region (PCRTM-SOLAR) has been developed. The algorithm is capable of simulating reflected solar spectra in both clear sky and cloudy atmospheric conditions. Multiple scattering of the solar beam by the multilayer clouds and aerosols are calculated using a discrete ordinate radiative transfer scheme. The PCRTM-SOLAR model can be trained to simulate top-of-atmosphere radiance or reflectance spectra with spectral resolution ranging from 1  cm−1 resolution to a few nanometers. Broadband radiances or reflectance can also be calculated if desired. The current version of the PCRTM-SOLAR covers a spectral range from 300 to 2500 nm. The model is valid for solar zenith angles ranging from 0 to 80 deg, the instrument view zenith angles ranging from 0 to 70 deg, and the relative azimuthal angles ranging from 0 to 360 deg. Depending on the number of spectral channels, the speed of the current version of PCRTM-SOLAR is a few hundred to over one thousand times faster than the medium speed correlated-k option MODTRAN5. The absolute RMS error in channel radiance is smaller than 10−3  mW/cm2/sr/cm−1 and the relative error is typically less than 0.2%.