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Knowledge of the factors controlling excited state dynamics in excitonically coupled dimers and higher aggregates is critical for understanding natural and artificial solar energy conversion. In this work we report ultrafast solvent polarity dependent excited state dynamics of the structurally well‐defined subphthalocyanine dimer, μ‐OSubPc 2 . Stationary electronic spectra demonstrate strong exciton coupling in μ‐OSubPc 2 . Femtosecond transient absorption measurements reveal ultrafast excimer formation from the initially excited exciton, mediated by intramolecular structural evolution. In polar solvents the excimer state decays directly through symmetry breaking charge transfer to form a charge separated state. Charge separation occurs under control of solvent orientational relaxation.
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