Recent work demonstrated that efficient solar-energy conversion could be achieved in polymer photovoltaic cells (PVCs) based on interpenetrating bi-continuous networks([1,2]). In this paper we present a comprehensive study on improving energy conversion efficiencies of PVCs based on composite films of MEBPPV and fullerene derivatives. Carrier collection efficiency of ca. 30% el/ph and energy conversion efficiency of 3.9% were achieved at 500 nm. At reverse bias of 15 V, the photosensitivity reached 0.8 A/W, corresponding to a quantum efficiency over 100% el/ph. These results suggest that high efficiency photoelectric conversion can be achieved in polymer devices with M-P-M structure. These devices are promising for practical applications such as plastic solar cells and plastic photodetectors.