Abstract: Disclosed are a photovoltaic with improved visibility, which can improve optical-to-electric conversion efficiency and can be applied to a window of a building or a view window of a moving means such as a vehicle, and a method of manufacturing the same. The photovoltaic includes a transparent substrate, a transparent electrode formed on one surface of the transparent substrate, a plurality of photovoltaic cells configured to each include a first electrode formed on the transparent electrode, an optical-to-electric conversion part formed on the first electrode, and a second electrode formed on the optical-to-electric conversion part, and a separation part provided between adjacent photovoltaic cells. The separation part exposes the transparent electrode to incident sunlight.