This paper presents a combined theoretical and experimental spectroscopic investigation of new phenanthrene derivative compounds, having some new remarkable structural features. Their chemical synthesis was achieved by efficient Mizoroki-Heck coupling. The corresponding properties, including UV–Vis absorption, photoluminescence, thermal stability and electrochemistry data, were deeply elucidated and presented. Besides, theoretical geometry optimization and different simulated spectra were performed via Density Functional Theory (DFT) method, in which both the gas and liquid phases characteristic are elucidated. A representative set of electrons donating groups (methoxy) and withdrawing groups (cyano) are introduced in the main chemical backbone, to elucidate the role of lateral and side backbone substituents. Overall, the theoretical calculation was carried to examine some fundamental parameters: electric dipole moment (μ), EHOMO, ELUMO, electronegativity (χ), global chemical hardness (η), global softness (σ), matched the experimental measurements, showing a good correlation. Among them, some useful information about the interaction of these organic systems with surfaces of SWCNT has been calculated through conceptual DFT. The C2:SWCNT(5,5) molecular blend with two different orientations to the nanotube axis, as active layer for conventional solar cell device, has been investigated. The characteristic parameters of the active layer and the device were consolidated by TD-DFT computational data and SILVACO-ATLAS software simulation results. Compatible energy models have been proposed simulating the electric response and band diagram of such optoelectronic devices.