Structure engineering of boron dipyrromethene (BODIPY) organic dye, to increase its light-harvesting efficiency in dye-sensitized solar cells, has been the subject of rigorous research recently. Herein, we report on the rational designing of BODIPY-carbazole (D-π-A-A) dyads using density functional theory (DFT). The structure of BODIPY-carbazole was first modified by substituting an electron-donating −N(CH3)2 group at the electron-rich carbazole moiety, and two electron-accepting −COOH groups at the BODIPY core. The DFT calculations showed a significant lowering of the band gap from 2.9 eV (pristine BODIPY-carbazole dyad) to 1.87 eV (modified BODIPY-carbazole dyad). Further modification was demonstrated by the incorporation of heterocyclic rings such as thiophene (denoted as D1T), furan (D1F), and phosphole (D1P) into BODIPY-carbazole moiety, which red-shifted the light absorption spectra and consequently improved the light-harvesting efficiency of the dyes. The interactions at the dye/semiconductor interface were studied by employing their bridged-bidentate adsorption models over the titanium dioxide (TiO2)38 nanocluster. Results suggested that the electrons can be efficiently injected from the lowest unoccupied molecular orbital (LUMO) of dyes into the conduction band of TiO2. Among the three dyads, D1P exhibited superior photovoltaic performance with a maximum power conversion efficiency of 13.50%, a short-circuit current density (Jsc) of 27.2 mA·cm–2, and an open-circuit voltage (Voc) of 731 mV. The structurally configured new D1P dye can be used as a potential alternative photosensitizer for high-performance dye-sensitized solar cells.