Dye-sensitized solar cells (DSCs) with open-circuit potentials above 1 V were obtained by employing the triphenylamine based organic dye D35 in combination with cobalt phenanthroline redox couples. A series of cobalt bipyridine and cobalt phenanthroline complexes with different redox potentials were investigated to examine the dependence of the driving force for recombination and dye regeneration on the photovoltaic performance. The photovoltage of the devices was found to increase and the photocurrent to decrease with increasing redox potential of the complexes. The halftime for regeneration of the oxidized dye by cobalt trisbipyrine was about 20 μs, similar to that found for the iodide/triiodide redox couple, whereas regeneration kinetics became slower for cobalt complexes with less driving force for regeneration. A driving force for dye regeneration of 390 mV for cobalt(II/III) tris(5-chloro-1,10-phenanthroline) was found sufficient to regenerate more than 80% of the D35 dye molecules, resulting in a conversion of incident photons to electric current of above 80%. The photocurrent of the D35 sensitized DSCs using cobalt phenanthroline complexes decreased, however, with increasing Nernst potential of the redox couples, due to the increased recombination and the decreased regeneration rate constants.