In certain example embodiments of this invention (e.g., see FIGS. 1 and 6), the front electrode 3 of a photovoltaic device is comprised of a multilayer coating including at least one transparent conductive oxide (TCO) layer (e.g., of or including a material such as tin oxide, zinc oxide, or the like) (3 a, 3 c and/or 3 e) and at least one conductive substantially metallic IR reflecting layer (e.g.