The photophysical properties of four selected novel carbaporphyrins in ethanol have been investigated using photoacoustic calorimetry and emission spectroscopy. These methods are used to quantify the formation of the singlet and triplet states of the carbaporphyrin, and singlet oxygen. These carbaporphyrins have a strong long wavelength absorption band in the neighborhood of 800 nm, which make them suitable for potential applications in photodynamic therapy. They have low fluorescence yields (1-3 x 10^-4) in the visible range. Near infrared emission measurements revealed a band at about 875 nm that extends to the region of singlet oxygen emission and interfering with its detection. Photoacoustic calorimetry measurements revealed that production of triplet state is small for three of the compounds (Φ_TE_T = 28-42 kJ/mol), but larger for the fourth one (Φ_TE_T = 105 kJ/mol)