A plurality of semiconductor nanoparticles having an elementally passivated surface are provided. These nanoparticles are capable of being suspended in water without substantial agglomeration and substantial precipitation on container surfaces for at least 30 days. The method of making the semiconductor nanoparticles includes reacting at least a first reactant and a second reactant in a solution to form the semiconductor nanoparticles in the solution. A first reactant provides a passivating element which binds to dangling bonds on a surface of the nanoparticles to passivate the surface of the nanoparticles. The nanoparticle size can be tuned by etching the nanoparticles located in the solution to a desired size.