In the fields of solid-state lighting and high efficiency solar photovoltaics (PVs), a need still exists for a material system that can target the 2.3–2.5 eV energy range. The ZnSe/GaAs system is shown to have great potential. The digital alloy approach can be utilized as a well-ordered design alternative to the disordered alloyed systems. The effective bandgap of the ZnSe/GaAs(001) superlattice has been studied as a function of the constituent monolayers using tight binding. The possibility of engineering a range of bandgaps with the same material system, to achieve the optimum value for solar PV and light emitting diode (LED) applications, has been proposed.