Electrophoretically deposited single-wall carbon nanotube (SWCNT) films on optically transparent electrodes are photoelctrochemically active and generate photoeurrent upon visible excitation. A low photon-to-current conversion efficiency of 0.15% suggests that most of the photogenerated charge carriers are lost in the recombination process. Time-resolved transient absorption experiments confirm the charge separation following the laser-pulse excitation of SWCNTs. Relaxation of photogenerated charge carriers in the SWCNT to the lowest energy gap occurs in similar to1 ps.