The present invention is directed to polymeric materials including a copolymer of at least a first and second monomer that have desirable electrical and optical properties, such as a low band gap and near infrared (NIR) absorption, respectively. More specifically, the present invention is directed to polymeric materials with charge neutrality that display increased solubility in aqueous media while retaining their electrical and optical properties. The polymeric materials in accordance with the present invention can be modified with any desired functional group to tailor the polymer materials for a specific application. Also described are methods of making the polymeric materials in accordance with the present invention.