An alternating copolymer containing dithienylcyclopentadienone, thiophene and benzothiadiazole was synthesized by palladium (0) catalyzed Stille coupling reaction. Structural characterization of the synthesized alternating copolymer was carried out by NMR and FTIR spectroscopy. This solution processable copolymer shows an excellent thermal stability and has a broad absorption range from 300-800 nm. High LUMO energy level and low band gap of the synthesized copolymers suggest that, this copolymer will be a better donor material for application in organic photovoltaics. Particle size analysis and molecular weight determination of the synthesized copolymer through dynamic light scattering experiment indicates that, high molecular weight copolymer was obtained by this polymerization route. Photovoltaic devices were fabricated from the blend of copolymer and phenyl-C61- butyric acid methyl ester as the active material. Fabricated photovoltaic device results show that this alternating copolymer is a promising candidate for use in organic photovoltaics.