Abstract Production of syngas with tunable CO/H 2 ratio from renewable resources is an ideal way to provide a carbon-neutral feedstock for liquid fuel production. Ag is a benchmark electrocatalysts for CO 2 -to-CO conversion but high overpotential limits the efficiency. We synthesize AgP 2 nanocrystals (NCs) with a greater than 3-fold reduction in overpotential for electrochemical CO 2 -to-CO reduction compared to Ag and greatly enhanced stability. Density functional theory calculations reveal a significant energy barrier decrease in the formate intermediate formation step. In situ X-ray absorption spectroscopy (XAS) shows that a maximum Faradaic efficiency is achieved at an average silver valence state of +1.08 in AgP 2 NCs. A photocathode consisting of a n + p-Si wafer coated with ultrathin Al 2 O 3 and AgP 2 NCs achieves an onset potential of 0.2 V vs. RHE for CO production and a partial photocurrent density for CO at −0.11 V vs. RHE ( j −0.11, CO ) of −3.2 mA cm −2 .