The current status of the long-term stability of dye solar cells (DSCs) and factors affecting it is reviewed. The purpose is to clarify present knowledge of degradation phenomena and factors in these cells by critically separating the assumptions from the solid experimental evidence reported in the literature. Important degradation processes such as dye desorption, decrease in the tri-iodide concentration, degradation at the photoelectrode and counter electrode, affect of ultraviolet light and moisture, and issues related to the sealing, are covered. It is concluded that techniques giving chemical information are needed for the stability investigations of DSCs to reveal possible ways to improve their lifetime. In this regard, experimental methods suitable for separating degradation mechanisms in complete cells during long-term testing are proposed employing specifically designed sealed cell structures, called segmented cells, that provide windows to measure specific cell components without being obscured by the others.