In this study, we analyzed the electrical and optical properties of metalorganic chemical vapor deposition grown InGaAs/InGaAsP/InP quantum dot(QD) molecules by using photoluminescence and deep-level transient spectroscopy. From these resulte, the energy levels of the large QDs are located at deeper region from the conduction band edge of the barrier than that of the small QDs, The large QDs seem to have the energy states more than two, and these energy levels of the QD molecules are located at 0.35, 0.42, and 0.45 eV from conduction band edge under -4 V reverse bias conditions. The energy levels are closely coupled under low reverse bias, and then decoupled as the bias voltage is increased.