We demonstrate the applications of tunnel junctions (TJs) for new concepts of monolithic nitride-based multicolor light emitting diode (LED) and laser diode (LD) stacks. The presented structures were grown by plasma-assisted molecular beam epitaxy (PAMBE) on GaN bulk crystals. We demonstrate a stack of four LDs operated at pulse mode with emission wavelength of 453 nm. The output power of 1.1 W and high slope efficiency of 2.3 W/A is achieved for devices without dielectric mirrors. Atomically flat surface after the epitaxy of four LD stack and low dislocation density is measured as a result of proper TJ design with optimized doping level. The strain compensation design with InGaN waveguides and AlGaN claddings is shown to be crucial to avoid cracking and lattice relaxation of the 5 µm thick structure. Vertical connection of n-LDs allows for cascade emission of photons and increases the quantum efficiency n-times. The two-color (blue and green) LEDs are demonstrated. Application of TJs simplifies device processing, reducing the need for applications of p-type contact. The key factor enabling demonstration of such devices is hydrogen-free PAMBE technology, in which activation of buried p-type layers is not necessary.