A photovoltaic module includes a solar cell module including multiple solar cells, and first and second conductive lines connected respectively to first and second solar cells among the solar cells, and a junction box attached to the solar cell module. The junction box includes a power conversion unit including a capacitor unit located between the first and second conductive lines, a converter unit to change the level of a DC voltage at opposite ends of the capacitor unit and to output the DC voltage, and a controller to control the converter unit. When shading occurs in some of the solar cells, the power conversion unit supplies a second current, the level of which is lower than the level of a first current supplied before shading occurs, whereby the possibility of generation of a hot spot may be reduced despite the absence of bypass diodes when shading occurs.