We present an ab initio study of the BFCO solid solution formed by multiferroics BiFeO3 (BFO) and BiCoO3 (BCO). We find that BFCO presents a strongly discontinuous morphotropic transition between BFO-like and BCO-like ferroelectric phases. Further, for all compositions such phases remain (meta)stable and retain well-differentiated properties. Our results thus suggest that an electric field can be used to switch between these structures, and show that such a switching involves large phase-change effects of various types, including piezoelectric, electric, and magnetoelectric ones. 75.85.+t, 71.15.Mb Functional oxides attract attention because of their potential for designing materials tailored for specific applications. A lot of work focuses on BiFeO 3 (BFO), one of the few compounds that is magnetoelectric (ME) multiferroic -i.e., displays coupled electric and magnetic orders -at room temperature [1]. Interest in BFO has been recently refueled by the discovery that an electric field E can be used to switch between two different ferroelectric (FE) phases of epitaxially-compressed films [2]. Such a Eswitching has a number of functional effects associated to it, as the phases involved are markedly dissimilar in terms of cell shape (the switching thus implies a large piezoelectric effect) and magnetism (ME effect). Hence, BFO films offer the appealing possibility of obtaining phasechange functional responses of various kinds. Here we propose that some BFO-based solid solutions are ideally suited to this end, and present illustrative first-principles results for BiFe 1−x Co x O 3 .Materials-design aspects.-The E-switching in BFO films involves two phases [3]: one that is similar to the rhombohedral structure of bulk BFO and has a polarization P roughly along the [111] pseudo-cubic direction (R phase in the following); and a phase with a unit cell of very large aspect ratio (c/a ∼ 1.25) and P roughly parallel to [001] (super-tetragonal or T phase). Firstprinciples work has shown that these phases revert their relative stability as a function of epitaxial strain [3,4], and that there is a strain range in which both can exist [4]. It has also been predicted that, even in absence of stabilizing fields, BFO presents many T phases that are local energy minima [5]. The theory is thus compatible with the observation that E fields can be used to switch between different FE phases of BFO.These results suggest that, to find materials in which the E-switching is possible, one must look for compounds displaying a strongly discontinuous transition between two FE phases; further, the FE phases should be robustly stable and their polarizations point along markedly different directions, so that it is easy to switch between them by applying properly oriented fields. An obvious strategy is to look for chemical substitutions of BFO that may result in a morphotropic phase boundary (MPB) between the R phase of the pure compound and a second FE structure. Among many possibilities, the BiFe 1−x Co x O 3 (BFCO) solid solution seems parti...