In this review paper, we present a comprehensive summary of the different organic solar cell (OSC) families. Pure and doped conjugated polymers are described. The band structure, electronic properties, and charge separation process in conjugated polymers are briefly described. Various techniques for the preparation of conjugated polymers are presented in detail. The applications of conductive polymers for organic light emitting diodes (OLEDs), organic field effect transistors (OFETs), and organic photovoltaics (OPVs) are explained thoroughly. The architecture of organic polymer solar cells including single layer, bilayer planar heterojunction, and bulk heterojunction (BHJ) are described. Moreover, designing conjugated polymers for photovoltaic applications and optimizations of highest occupied molecular orbital (HOMO)-lowest unoccupied molecular orbital (LUMO) energy levels are discussed. Principles of bulk heterojunction polymer solar cells are addressed. Finally, strategies for band gap tuning and characteristics of solar cell are presented. In this article, several processing parameters such as the choice of solvent(s) for spin casting film, thermal and solvent annealing, solvent additive, and blend composition that affect the nano-morphology of the photoactive layer are reviewed.