Coated article with IR reflecting layer designed for low U-value and higher G-value and method of making same

A coated article incudes a low-emissivity (low-E) coating having at least one infrared (IR) reflecting layer of or including a material such as silver or the like. The low-E coating is designed so that the coated article can realize a low U-value in combination with a high solar heat gain (g value). In the top dielectric portion of the coating above the silver, a high-low-high refractive index sequence is provided. This allows for a low U-value and a higher g value to be obtained for a given silver thickness. Coated articles herein may be used in the context of insulating glass (IG) window units, or in other suitable applications such as monolithic window applications, laminated windows, and/or the like.