Polymer photovoltaic cells based on low band-gap copolymer, poly [2,7-(9,9-dioctyl) fluorene-co-5,5'-(4,7-diselenophenyl)-2,2'-yl-2,1,3-benzothiadiazole] (PFSeBT) are investigated, focusing on the effects of cathode and blend concentration on device performance. The best device, with active layer from PFSeBT:PCBM=1:2 blend and with LiF/Al as cathode, achieves an open-circuit voltage of 1.00V, a short-circuit current density of 4.42mA/cm2, and energy conversion efficiency of 1.67% under AM1.5 illumination (100mW/cm2).The short-circuit current density indicates the dependence of power law on the incident light intensity with a power index of 0.887. All devices have a spectral response up to 680nm. The results indicate that PFSeBT is a potential polymer functioning as an electron donor in polymer photovoltaic cells.