When an electron meets with a hole, they recombine and these free carriers effectively vanish. The energy released can be either thermal, heating up the semiconductor (thermal recombination, one of the sources of waste heat in semiconductors), or released as photons (optical recombination, used in LEDs and semiconductor lasers). The recombination means an electron which has been excited from the valence band to the conduction band falls back to the empty state in the valence band, known as the holes. The holes are the empty states created in the valence band when an electron gets excited after getting some energy to pass the energy gap.