Three layers of phthalocyanine/perylene heterojunction (HJ) components were stacked and sandwiched by an indium tin oxide (ITO) and a top metal electrode, which is denoted by a triple-HJ organic solar cell. The organic material in the middle-HJ component second from the ITO was varied to investigate the photovoltaic properties. The power conversion efficiency (PCE) was improved by the more balanced photo-generated carrier by use of the appropriate material for the second-HJ component. The optimized device showed higher PCE (1.38%) than the reference device (0.98%). (c) 2004 Elsevier B.V. All rights reserved.