Physiochemical processes at the photo-electrode and the counter electrode of dye sensitized solar cells (DSSCs) involving having carbon nanotubes (CNTs) instead of the TiO2 layer, within the working electrode, are simulated in this work. Attention is paid to find the effect of CNT layer thickness on photo-electrochemical (PEC) characteristics of the CNT-DSSCs. Comparison with other conventional TiO2-DSSC systems, taking into account the working electrode film thickness, is also described here. To achieve these goals, a model is presented to explain charge transport and electron recombination which involve electron photo-excitation in dye molecules, injection of electrons from the excited dye to CNT working electrode conduction band, diffusion of electrons inside the CNT electrode, charge transfer between oxidized dye and (I-) and recombination of electrons. The simulation is based on solving non-linear equations using the Newton-Raphson numerical method. This concept is proposed for modelling numerical Faradaic impedance at the photo-electrode and the platinum counter electrode. It then simulates the cell impedance spectrum describing the locus of the three semicircles in the Nyquist diagram. The transient equivalent circuit model is also presented based on optimizing current–voltage curves of CNT-DSSCs so as to optimize the fill factor (FF) and conversion efficiency (η). The results show that the simulated characteristics of CNT-DSSCs, with different active CNT layer thicknesses, are superior to conventional TiO2-DSSCs.