The term for transforming light energy into chemical energy is photosynthesis. This process occurs in plants, algae, and some bacteria, where they absorb sunlight using chlorophyll to convert carbon dioxide and water into glucose and oxygen. Photosynthesis consists of two main stages: the light-dependent reactions, which convert solar energy into chemical energy (ATP and NADPH), and the light-independent reactions (Calvin Cycle), where the actual synthesis of glucose occurs. This process not only provides energy for the organism itself but also releases oxygen into the atmosphere, crucial for the survival of aerobic life forms.