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Abstract Detailed electrical and photoemission studies were carried out to probe the chemical nature of the insulating ground state of VO 2 , whose properties have been an issue for accurate prediction by common theoretical probes. The effects of a systematic modulation of oxygen over-stoichiometry of VO 2 from 1.86 to 2.44 on the band structure and insulator–metal transitions are presented for the first time. Results offer a different perspective on the temperature- and doping-induced IMT process. They suggest that charge fluctuation in the metallic phase of intrinsic VO 2 results in the formation of e − and h + pairs that lead to delocalized polaronic V 3+ and V 5+ cation states. The metal-to-insulator transition is linked to the cooperative effects of changes in the V–O bond length, localization of V 3+ electrons at V 5+ sites, which results in the formation of V 4+ –V 4+ dimers, and removal of $$\pi^{*}$$ π ∗ screening electrons. It is shown that the nature of phase transitions is linked to the lattice V 3+ /V 5+ concentrations of stoichiometric VO 2 and that electronic transitions are regulated by the interplay between charge fluctuation, charge redistribution, and structural transition.
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