A photovoltaic device includes lateral P-I-N light-sensitive diodes respectively formed in portions of a planar semiconductor material (e.g., polycrystalline or crystalline silicon) layer that is entirely disposed on an insulating material (e.g., SiO2) layer utilizing, e.g., STI or SOI techniques. Each light-sensitive diode includes parallel elongated doped regions respectively formed by P+ and N+ dopant extending entirely through the semiconductor layer material and separated by an intervening elongated intrinsic (native) region. The light-sensitive diodes are connected in series by patterned conductive (e.g., metal film) structures. Optional bypass diodes are formed next to each lateral P-I-N light-sensitive diodes. Optional trenches are defined between adjacent light-sensitive diodes. The photovoltaic devices are either utilized to form low-cost embedded low power photovoltaic arrays on CMOS IC devices, or produced on low-cost SOI substrates to provide, for example, low-cost, high voltage solar arrays for solar energy concentrators.