The name for the process of converting sunlight into chemical energy is photosynthesis. During this process, plants, algae, and some bacteria utilize sunlight to transform carbon dioxide and water into glucose and oxygen. The overall reaction can be summarized by the formula 6CO2 + 6H2O + light energy → C6H12O6 + 6O2. Photosynthesis is essential for life on Earth as it provides the primary source of energy for nearly all living organisms through the food chain and produces the oxygen necessary for aerobic respiration.