Photovoltaics (PV) is the name of a method of converting solar energy into direct current electricity using semiconducting materials that exhibit the photovoltaic effect, a phenomenon commonly studied in physics, photochemistry and electrochemistry.hotovoltaics are best known as a method for generating electric power by using solar cells to convert energy from the sun into a flow of electrons. The photovoltaic effect refers to photons of light exciting electrons into a higher state of energy, allowing them to act as charge carriers for an electric current.