A comparative study, using time-resolved and CW photoluminescence spectroscopy, of MOVPE grown InGaN/GaN multiple quantum wells deposited on HVPE GaN/Sapphire at different growth temperatures was undertaken. It was found that the PL linewidth increased and the peak emission energy decreased as the growth temperature was reduced. Moreover, the sample grown at an intermediate growth temperature exhibited total integrated luminescence intensity much greater than the samples grown at higher or lower growth temperatures. A phenomenological carrier recombination dynamics model based on the competition of quantum well-like radative recombination, spatially localized radiative recombination in potential minima and non-radiative recombination through defects is presented to provide an explanation of the observed emission dynamics and efficiency. In this model, the emission efficiency is determined by the relative area of defects and the number density of localized states in the potential minima, both of which are influenced by the growth temperature. Furthermore, the photon energy dependent lifetimes are well fitted with this model by assuming a Gaussian shape localized states distribution. The localized potential minima are consistent with nanoscale indium rich regions due to indium aggregation.