Fullerenes, carbon nanotubes, nanodiamond, and graphene find various applications in the development of solar cells, including dye sensitized solar cells. Nanocarbons can be used as (1) active light-absorbing component, (2) current collector, (3) photoanode additive, or (4) counter electrode. Graphene-based materials have attracted considerable interest for catalytic counter electrodes, particularly in state-of-the-art dye sensitized solar cells with Co-mediators. The understanding of electrochemical charge-transfer at carbon surfaces is key to optimization of these solar cells, but the electrocatalysis on carbon surfaces is still a subject of conflicting debate. Due to the rich palette of problems at the interface of nanocarbons and photovoltaics, this review is selective rather than comprehensive. Its motivation was to highlight selected prospective inputs from nanocarbon science towards the development of novel dye sensitized solar cells with improved efficiency, durability, and cost.