Here, we have studied the effect of water added electrolyte on the photovoltaic performance of dye-sensitized solar cells (DSSCs). It was found that open-circuit voltage ($V_{oc}$) increased and short-circuit current density ($j_{sc}$) decreased with the increase of the amount of added water in the electrolyte of the DSSCs. Electrochemical impedance spectroscopy (EIS) study showed that the electrolyte with added water shifted the dye loaded $TiO_2$ conduction band upward that eventually increased $V_{oc}$ of the cells. On the other hand, the upward shift of $TiO_2$ conduction band decreased the driving force for the electron injection from the lowest unoccupied molecular orbital (LUMO) of the dye molecules to the conduction band of $TiO_2$ that resulted in decreased $j_{sc}$.