A junction box for a photovoltaic system includes a housing having a base and a cover removably attached thereto, and a plurality of guide channels extending from an exterior surface of the housing to an interior portion thereof. The guide channels are sized and shaped to receive a plurality of conductive foil strips from a solar panel array. When the strips are fed into the guide channels, they are guided to and properly positioned within corresponding receptacles. Each receptacle is sized and shaped to receive a buss bar, and each strip is connected to a corresponding buss bar by a low insertion connector. When the cover is fully engaged with the base, bosses extending from the cover press against the connectors, creating a spring tension and pinch and retain the associated strip. As a result, a reliable physical and electrical connection between the strips and the buss bars is achieved. A heat sink having a plurality of fins protrude outwardly from the housing to dissipate heat externally.