A photovoltaic module is discussed. The photovoltaic module includes a solar cell module including a plurality of solar cells and a junction box attached to a rear surface of the solar cell module, the junction box including a power conversion module to convert direct current (DC) voltage supplied from the solar cell module into alternating current (AC) voltage and to output the AC voltage, wherein the power conversion module included at least one bypass diode to receive the DC voltage from the solar cell module, a converter unit to power-convert the DC voltage from the at least one bypass diode, the converter unit including at least three interleaving converters, a capacitor to store voltage output from the converter unit, and an inverter unit to output the AC voltage using the voltage stored in the capacitor. Consequently, it is possible to stably output AC voltage.