Either boron- or nitrogen-doped carbon nanotubes (B- or N-CNTs) were incorporated in bulk heterojunction organic solar cells photoactive layer composed of poly(3 hexylthiophene) (P3HT) : (6,6)-phenyl-C61-butyric acid methyl ester (PCBM). The physical and chemical properties were investigated using different spectroscopic techniques. The cell performance was followed from their current-voltage (𝐽-𝑉) characteristics. Recombination dynamics of the photo-generated free charge carriers were investigated using micro- to milliseconds transient absorption spectroscopy (TAS). Transmission electron microscopy (TEM) images revealed the presence of cone structures and bamboo compartments in B-CNTs and N-CNTs, respectively. X-ray photoelectron spectroscopy (XPS) revealed very little boron was substituted in the carbon network and presence of pyrrolic, pyridinic, and quaternary species of nitrogen in N-CNTs. 𝐽-𝑉 characteristics were found to be similar for the devices with B- and N-CNTs even though boron- and nitrogen-doped CNTs are known to have different properties, that is, p-type and n-type, respectively. TAS results showed that all devices had long lived free charge carriers but the devices with B- or N-CNTs had low power conservation efficiency and voltage.