This paper describes results of our study aimed at understanding mechanism (s) of dislocation generation and propagation in multi-crystalline silicon (mc-Si) ingots, and evaluating their influence on the solar cell performance. This work was done in two parts: (i) Measurement of dislocation distributions along various bricks, selected from strategic locations within several ingots; and (ii) Theoretical modeling of the cell performance corresponding to the measured dislocation distributions. Solar cells were fabricated on wafers of known dislocation distribution, and the results were compared with the theory. These results show that cell performance can be accurately predicted from the dislocation distribution, and the changes in the dislocation distribution are the primary cause for variations in the cell-to-cell performance. The dislocation generation and propagation mechanisms, suggested by our results, are described in this paper.