In the present review we highlight the main research activities in the field of organic photonics and photovoltaics at the Institute for Problems of Chemical Physics of Russian Academy of Sciences (IPCP RAS). Extensive investigation of optical and electrical properties of π-conjugated organic compounds performed at IPCP RAS since 1960's resulted in design of many exciting materials representing organic semiconductors, metals and superconductors. Organic Schottky barrier and p/n junction photovoltaic devices constructed at IPCP RAS in 1960's and 1970's were among the first examples of reasonably efficient organic solar cells at that time. These early discoveries inspired younger generations of the researchers to continue the work of their mentors and explore the world of organic materials and photonic devices such as molecular photonic switches, organic light emitting diodes, solar cells, photodetectors, photoswitchable organic field-effect transistors and memory elements.