Cobalt and silver co-doping has been undertaken in ZnO thin films grown by pulsed laser deposition in order to investigate the ferromagnetic properties in ZnO-based diluted magnetic materials and to understand the eventual relation between ferromagnetism and charge carriers. Hall transport measurements reveal that Ag doping up to 5% leads to a progressive compensation of the native n-type carriers. The magnetization curves show ferromagnetic contributions for all samples at both 5 K and room temperature, decreasing with increasing the Ag concentration. First principles modeling of the possible configurations of Co-Ag defects suggest the formation of nano-clusters around interstitial Co impurity as the origin of the ferromagnetism. The Ag co-doping results in a decrease of the total spin of these clusters and of the Curie temperature.
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