(Thu 12:24 18/Jun/09)Yes there certainly is. That is why they both have separate names.
Clanad
(Thu 15:59 18/Jun/09)On a more serious note... Photovotaic is a specific term referencing devices that turn sunlight into electricity or a solar cell, while Photoelectric is a general term for all such devices, including motion detectors and electric eyes, such as used for measuring light for cameras and the 'magic' door openers we're all familiar with...