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An exciton is a bound state of an Electron and an electron hole. Their opposite electric charges attract through the Coulomb potential, producing a neutral quasiparticle with internal relative motion and motion of its center of mass. In a semiconductor, promoting an Electron from the valence band into the conduction band leaves an electron hole; the pair can occupy either an exciton bound state or an unbound scattering state. Merely creating the two charge carriers does not establish binding. A neutral exciton can transport excitation energy without transporting net electric charge. Coupling this material excitation strongly to a photon can form a polariton.

The striking optical consequence is that an exciton optical transition can absorb a photon with less energy than the threshold for creating unbound Electrons and electron holes. The difference is the exciton binding energy, not an extra one-electron energy band inside the band gap. The Wannier-Mott exciton supplies a useful large-radius model; the Frenkel exciton describes the opposite, tightly localized limit.^[ref]

A Frenkel exciton is an exciton whose internal excitation is concentrated on the scale of one molecule or unit cell. The local excitation can transfer between sites; localized internal structure does not require an immobile center of mass. The large-radius Wannier-Mott exciton approximation cannot simply be extrapolated to this limit.^[ref]