Research in the field of optically transparent conducting polymers has been gaining great attention due to their relatively low processing cost, light weight and flexibility as compared to their inorganic counterpart. Besides having found several applications in the field of electronic and optoelectronic devices, optically transparent conducting polymers are primarily used as a hole- injection layers in photovoltaics and light-emitting devices. Herein, we report the electronic and optoelectronic properties of conducting polymers obtained from different fused heterocycles, viz. thieno[3,4-b]furan, thieno[3,4-b]thiophene, and dimers of thieno[3,4-b]thiophene. Aqueous dispersion polymerization in the presence of poly(styrene sulfonic acid) as a template is also performed to make them processable from water. Water soluble conducting polymer was obtained via ring sulfonation of chemically or electrochemically prepared polythieno[3,4-b]thiophene [PT34bT]. The optical properties were tuned by varying sulfonation level or by depositing different number of bilayers via layer-by-layer technique. Stable conjugated polymers with band gaps ranging from 0.8 to 1.6 eV were obtained.