Abstract: A photovoltaic module (110) is disclosed, which is suited for conversion of incident electromagnetic radiation (112) into electric energy. The photovoltaic module (110) comprises in order: a transparent cover sheet (114); and—at least one photovoltaic cell (116), wherein the at least one photovoltaic cell (116) is adapted to convert electromagnetic radiation (112) passing through the transparent cover sheet (114) into electric energy and wherein the photovoltaic cell (116) is accommodated within at least one encapsulation element (118) providing protection from environmental influence. The encapsulation element (118) comprises at least one luminescence downshifting material, which is adapted for at least partially absorbing the incident radiation (112) and for re-emitting radiation (112) at a longer wavelength.