Turning light into food
Why leaves are green
Chlorophyll absorbs blue and red light most strongly and green light least, which is why leaves look green: we're seeing the wavelengths the leaf used least. But "least" is not "not at all." Measured across living leaves rather than pigment in a test tube, a leaf still absorbs roughly three-quarters of the green light that reaches it, and green penetrates deeper into the leaf than red or blue does, driving photosynthesis in the lower cell layers (McCree, 1971; Terashima et al., 2009). On living leaves the efficiency peaks sit around 620 nanometers (nm) in the orange-red and 440 nm in the blue (McCree, 1971).
Two stages, briefly
The light reactions run on the thylakoids , stacked membranes inside the chloroplast. They capture light energy into two energy-carrying molecules, ATP and NADPH, and split water, releasing oxygen as a byproduct. Most of the oxygen you're breathing was put there by this exact process. The Calvin cycle runs in the stroma, the fluid those stacks sit in, and uses that energy to lock CO2 into sugar, which is what botanists mean by fixing carbon (Taiz, Zeiger, Møller, & Murphy, 2015). Output: glucose, which is energy, building material, and storage all at once.

Fig. 9. Inside a chloroplast: light reactions on the stacked thylakoids, the Calvin cycle in the surrounding stroma.
Light is the limit
Photosynthesis runs at the rate of whatever's in shortest supply. Indoors, that's almost always light. You can dial in water, substrate, and humidity perfectly, but without enough light the plant can't make enough sugar to cover its own running costs, so it spends down its reserves and declines by degrees. That's why light is the first thing to assess for any houseplant, and why Module II is Reading Light.
Strengthen your understanding
Try these in your head first, then open to see.