A low profile high power Schottky barrier bypass diode for solar cells and panels with the cathode and anode electrodes on the same side of the diode and a method of fabrication thereof are disclosed for generating a thin chip with both electrodes being on the same side of the chip. In an embodiment, a mesa isolation with a Zener diode over the annular region surrounding the central region of the mesa anode in the Epi of the substrate is formed. In an embodiment, a P-type Boron dopant layer is ion implanted in the annular region for the Zener Diode. This controls recovery from high voltage spikes from the diode rated voltage. A Schottky barrier contact for the anode and a contact for the cathode are simultaneously created on the same side of the chip.