This is a great question that I have often thought about myself.
On a bill dance topwater show, he said that if possible, you want to be casting TOWARDS the sun. This is because casting towards the sun helps break up the outline of the lure, making it harder for the fish to spot it as a fake. Not seeing it exactly for what it is, and thinking that it is a meal getting away, might help you draw extra strikes.
I have also been trying to figure out if early in the mornings, you should fish the side that receives the sun first or if you should fish the side with the shade. From my early experience, testing for this variable, I think the side that is receiving the most sun is usually a good place to start. Of course, I know the ponds I fished this summer really well and I do remember that sometimes, water depth, and structure determined a lot where these fish became more active. It wasn't only about what shore the sun was hitting but what side possessed the best structure.
Following along the same line of thought, I have heard Doug Hannon say that when he doesn't know a body of water very well, he usually heads for the North West side. This is because the sun hits most of the bodies of water in the US on the North West side. The strength of the sun in these areas usually causes microorganisms to grow better there and use photosynthesis, which then brings out the smaller baitfish, bringing in the bigger predators and eventually bass.
This is the video where he talks about that. It also talks about "chasing the sun" and "the sun as the foundation of the food chain" pretty good stuff as far as I'm concerned!:
Hope this helps man. I am sure the more experienced and knowledgable guys on here will chime in. This is just some stuff that I have noticed and learned in my early fishing carreer.
Carlos