CdS quantum dots (CdS QDs) 4.3 nm in diameter synthesized in an AOT/isooctane/water microemulsion and in R-phycoerythrin tunnel cavities (3.5 × 6.0 nm) were analyzed for photoelectrochemical properties. The CdS QDs preparations were applied onto a platinum electrode to obtain solid films. Experiments were performed in a two-section vessel, with one section filled with ethanol and the other, with 3 M KCl. The sections were connected through an agar stopper. It was found that illumination of the films resulted in a change of the electrode potential. The magnitude of this change and the kinetics of the appearance and disappearance of the photopotential, i.e., the difference between the electrode potential on the light and in dark, depended on the nature of the QD shell. The photovoltaic effect of CdS QDs in R-phycoerythrin, compared to that of CdS QDs in AOT/isooctane micelles, is three to four times greater due to the photosensitizing action of R-phycoerythrin. The photosensitized effect was markedly higher than the photoelectric sensitivity of R-phycoerythrin and had the opposite polarity. Changes in the potential upon turning the light on and off could be observed repeatedly.