Step 1: Understanding the Concept:
In forward biasing, the positive terminal of the battery is connected to the p-side and the negative terminal to the n-side.
Step 2: Formula Application:
The applied voltage $V$ opposes the built-in potential barrier $V_B$. The effective barrier height becomes $(V_B - V)$.
Step 3: Explanation:
This reduction in the potential barrier allows majority carriers (holes from p-side and electrons from n-side) to diffuse across the junction, resulting in a large current.
Step 4: Final Answer:
It lowers the potential barrier.