Two new semiconducting polymers based on indacenodithiophene and thiadiazolo[3,4-c]pyridine units were synthesized viaStille coupling polymerization. The polymers, PIDTPyT and PIDTDTPyT, exhibited main absorption bands in the range of 550–800 nm while their absorption maxima were located at around 700 nm in films. With two additional thiophene spacers, PIDTDTPyT showed a broader absorption band but a 20 nm blue-shifted maximum peak compared to that of PIDTPyT. Both of the polymers possess low bandgaps (∼1.6 eV) and deep energy levels for both the highest occupied molecular orbital (HOMO) and the lowest unoccupied molecular orbital (LUMO). Organic field-effect transistors (OFETs) device measurements indicate that PIDTPyT and PIDTDTPyT have high hole carrier mobilities of 0.066 and 0.045 cm² V⁻¹s⁻¹, respectively, with the on/off ratio on the order of 10⁶. Bulk heterojunction photovoltaic devices consisting of the copolymers and PC₇₁BM gave power conversion efficiencies (PCE) as high as 3.91% with broadband photo-response in the range of 300–800 nm. The relationships between the photovoltaic performance and film morphology, energy levels, hole mobilities are discussed.