In an effort to replace the widely used ruthenium metal complexes with low-cost, earth abundant iron complexes as photosensitizers for dye-sensitized solar cell (DSSC) applications, herein we report the computational design of heteroleptic iron complexes (FC1-3) coordinated with benzimidazole-phenylcarbene (C^N) ligands. DFT and TDDFT calculations predicted the stronger σ-donating and π-accepting nature of phenyl carbene ligands substituted with electron-withdrawing CF3, donating -N(CH3)2, and benzothiazine annulation than the imidazole carbene ligands (FC4); consequently, the metal-ligand bond distances and interactions that influence the ordering of charge transfer states with respect to metal centered states are altered in FC1-3 complexes. Detailed analysis based on energy decomposition analysis, spin density distribution analysis, and ab initio ligand field theory parameters were enabled to understand the nature of heteroleptic ligand interactions with the rest of the metal complex. The results from the study shed light on the judicious choice of ligands, as the same non-innocent ligand that is experimentally proven as favorable for Ru-dyes (TC1) is found to be detrimental for Fe-dyes (FC1). Among the complexes studied, the FC3 complex is a promising sensitizer for DSSC with 1,3MLCT energy level well separated from 3,5MC, thereby preventing the deactivation of MLCT. The outcome of the study is therefore an important step toward the development of photosensitizers based on iron metal. Graphical abstract Potential photosensitzers based on earth-abundant, low cost iron metal have been designed for dye sensitized solar cell applications.