In this study, we have used three D-A type carbazole substituted BODIPY (carbazole connected to the meso position of BODIPY) small molecules as donors along with PC71BM as an electron acceptor for the fabrication of solution processed bulk heterojunction organic solar cells. The devices based on the as cast active layer showed power conversion efficiency in the range of 2.20-2.70%, with high open circuit voltage (Voc) in the range of 0.94-1.08 V. The high Voc is related to the deeper highest occupied molecular orbital energy level of these small molecules. The power conversion efficiency (PCE) of devices based on thermally annealed and solvent vapor annealed (TSVA) :PC71BM and :PC71BM processed active layers improved up to 5.05% and 4.80%, respectively, attributed to the improved light harvesting ability of active layers, better phase separation for exciton dissociation and balanced charge transport, induced by the TA and TSVA treatment.