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The bandgap is a fundamental concept in semiconductor physics, referring to the energy difference between the valence band, where electrons are bound to atoms, and the conduction band, where electrons are free to move and conduct electricity. This energy gap is crucial as it determines the electrical properties of a material. The size of the bandgap influences whether a material behaves as an insulator, conductor, or semiconductor. Larger bandgaps typically indicate the material is more insulating, while smaller bandgaps make it more conductive.