The P doped ZnO (PZO) thin films were deposited by pulsed laser deposition via controlling oxygen pressure at low temperature (200 °C). The structural, surface morphological, electrical and optical properties of the thin films are systematically and detailedly studied. The surface morphologies show that the grain size of PZO thin films increases with oxygen pressure. The change mechanism of morphology is proposed. The increase of mobility is associated with the development of grain size. Thus, the carrier mobility can be improved by grain size control. The average optical transmittance in the visible region (380–780 nm) is above 90%. The estimated optical band gaps of the thin films decrease from 3.49 to 3.39 eV with the oxygen pressure increasing from 0 to 1 Pa, due to the Burstein–Moss effect and band gap renormalization. The highest figure of merit observed in this present study is 8.3 × 10−3 Ω−1, while the thin films are deposited at 0.01 Pa. The qualities of PZO thin films are advantages for the application in solar cells.
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