A series of one donor-two acceptor (D-A(1))-(D-A(2)) random terpolymers containing a 2,7-carbazole donor and varying compositions of perylene diimide (PDI) and naphthalene diimide (NDI) acceptors was synthesized via Suzuki coupling polymerization. The optical properties of the terpolymers are weighted sums of the constituent parent copolymers and all show strong absorption over the 400 to 700 nm range with optical bandgaps ranging from 1.77 to 1.87 eV, depending on acceptor composition. The copolymers were tested as acceptor materials in bulk heterojunction all-polymer solar cells using poly[(4,8-bis-(2-ethylhexyloxy)-benzo[1,2-b;4,5-b]dithiophene)-2,6-diyl-alt-(4-(2-ethylhexanoyl)-thieno[3,4-b]thiophene)-2,6-diyl] (PBDTTT-C) as the donor material. In contrast to the optoelectronic properties, the measured device parameters are not composition dependent, and rather depend solely on the presence of the NDI unit, where the devices containing any amount of NDI perform half as well as those using the parent polymer containing only carbazole and PDI. Overall this is the first example of a one donor-two acceptor random terpolymer system containing perylene diimide (PDI) and naphthalene diimide (NDI) acceptor units, and demonstrates a facile method of tuning polymer optoelectronic properties while minimizing the need for complicated synthetic and purification steps. (c) 2014 Wiley Periodicals, Inc. J. Polym. Sci., Part A: Polym. Chem. 2014, 52, 3337-3345