In an effort to develop robust molecular sensitizers for solar fuel production, we examine the electronic structure and photodynamics of transition-metal-substituted polyoxometalates (POMs), a novel class of compound in this context. (4a), finding the longest lived charge transfer excited state so far observed in a POM and elucidating the electronic structures and excited state dynamics of these compounds at an unprecedented level. All species exhibit a biexponential decay in which early dynamic processes with time constants in the fs domain yield longer lived excited states which decay with time constants in the ps to ns domain. The initially formed states of 1a and 3a are considered to result from metal-topolyoxometalate charge transfer (MPCT) from Co II to W, while the longer-lived excited state of 1a is tentatively assigned to a localized intermediate MPCT state. The excited state formed by the tetrahedral cobalt(II) centered heteropolyanion (1a) is far longer-lived ( = 420 ps in H2O; = 1700 ps in MeCN) than that of 3a ( = 1.3 ps), where the single Co II atom is located in a pseudo-octahedral addendum site. Short-lived states are observed for the two Co III containing heteropolyanions 2a ( = 4.4 ps) and 4a ( = 6.3 ps) and assigned solely to OCo III charge transfer. The dramatically extended lifetime for 1a vs 3a is ascribed to a structural change permitted by the coordinatively flexible central site, weak orbital overlap of the central Co with the polytungstate framework, and putative transient valence trapping of the excited electron on a single W atom, a phenomenon not noted previously in POMs.