This study investigates $Bi_2O_3$-$B_2O_3$-BaO-ZnO glass with variations of the $Co_3O_4$ content (0.25, 0.5, 1, and 2 wt%) and the interaction between transparent dielectric and Ag electrodes heat-treated at $500-560^{circ}C$ for 30 min. The glass transition temperature, softening temperature and thermal expansion coefficient were $432^{circ}C$, $460^{circ}C$ and $81.4{ imes}10^{-7}/^{circ}C$, respectively. The transmittance of 0.25 wt% $Co_3O_4$ to which dielectric was added was highest and was decreased due to coloration with the addition of more than 0.25 wt%. However, without $Co_3O_4$, the transmittance of the transparent layer was decreased due to the formation of $Ba_5Bi_3$; however, the occurrence of the crystal phase decreased as a result of the addition of $Co_3O_4$. The amount of $Co^{2+}$ ions increased as the $Co_3O_4$ increased. With a maximum of $Co^{3+}$ ions, the highest transmittance was observed.