V2O5 is a layered material with chains within the layer. I will discuss how this is manifested in its electronic band structure. The quasiparticle self-consistent GW method in this material strongly overestimates the band gap. The main reasons for this are examined and found to be a lattice polarization contribution to the screening of the electron-electron interaction. This is related to the large LO/TO phonon splittings in this material. Changes in band structure and phonons between bulk and monolayer will be discussed.