NOVELTY - A paste composition for an electrode (133, 135) comprises: silver alloy particles, glass particles, a resin, a solvent, and optionally copper particles.    USE - As paste composition for an electrode useful in photovoltaic cells (claimed), electrode wirings and shield wirings of plasma displays, ceramic condensers, antenna circuits, various sensor circuits, and in heat dissipation materials of semiconductor devices.    ADVANTAGE - The paste composition forms an electrode that inhibits an increase in resistivity while reduces the amount of silver to be used, thus contributes a reduction in cost. Since the glass particles used in the paste compositions do not contain lead components, they lessen an effect on the environment. Since the glass particle contains diphosphorus pentoxide, reduction in the contact resistivity is promoted. Further, since it also contains divanadium pentoxide in addition to diphosphorus pentoxide, the softening point of the glass is lowered, and thus the oxidation resistance is further improved and the resistivity of the electrode is further reduced. Moreover, the composition is capable of forming an electrode having a low resistivity even with the use of a lead-free glass, and the photovoltaic cell comprising the electrode has good characteristics and excellent productivity. The reduction in size of the silver particles used leads to promotion of sintering resulting in reduction in the volume resistivity. By using the paste composition, an electrode having a low resistivity can be formed even with a sintering treatment in the presence of oxygen, e.g. in the atmosphere.    DETAILED DESCRIPTION - An INDEPENDENT CLAIM is included for a photovoltaic cell having an electrode formed by applying the paste composition to a silicon substrate (130), and sintering the paste composition.    DESCRIPTION OF DRAWING(S) - The figure shows a cross-sectional view of the photovoltaic cell.    Semiconductor substrate (130)    Diffusion layer (131)    Anti-reflection layer (132)    Light-receiving surface electrode (133)    Current collection electrode (134)    Output extraction electrode (135)