The fabrication of a low reabsorption emission loss, high efficient luminescent solar concentrator (LSC) is demonstrated by embedding near infrared (NIR) core/shell quantum dots (QDs) in a polymer matrix. An engineered Stokes shift in NIR core/shell PbS/CdS QDs is achieved via a cation exchange approach by varying the core size and shell thickness through the refined reaction parameters such as reaction time, temperature, precursor molar ratio, etc. The as‐synthesized core/shell QDs with high quantum yield (QY) and excellent chemical/photostability exhibit a large Stokes shift with respect to the bare PbS QDs due to the strong core‐to‐shell electrons leakage. The large‐area planar LSC based on core/shell QDs exhibits the highest value (6.1% with a geometric factor of 10) for optical efficiency compared to the bare NIR QD‐based LSCs and other reported NIR QD‐based LSCs. The suppression of emission loss and the broad absorption of PbS/CdS QDs offer a promising pathway to integrate LSCs and photovoltaic devices with good spectral matching, indicating that the proposed core/shell QDs are strong candidates for fabricating high efficiency semi‐transparent large‐area LSCs.