Photosynthesis is the process by which plant cells use sunlight, water, and carbon dioxide to produce carbohydrates (sugars) and release oxygen as a byproduct. The chemical formula for this reaction is: Solar energy + 6 CO2 + 6 H2O → 1 C6H12O6 + 6 O2.

Photosynthesis takes place within the chloroplasts inside plant cells. We will further examine the two main stages of photosynthesis within these organelles.

The first primary step is the light reactions, which occur in the thylakoids of the chloroplast. Here, pigments absorb light energy, transferring it to high-energy electrons, which ultimately produce ATP and NADPH. Water is split to replace these electrons, releasing oxygen gas.

The second primary step is the Calvin cycle reactions, also known as 'dark reactions' or 'light-independent reactions', which occur in the stroma of the chloroplast. This series of reactions utilizes the ATP and NADPH from the light reactions to convert carbon dioxide into carbohydrates. The resulting NADP+ and ADP are then recycled for the next set of light reactions.

In summary, photosynthesis uses solar energy, carbon dioxide, and water to create carbohydrates, with oxygen as a byproduct. The overall chemical equation is Solar energy + 6 CO2 + 6 H2O → 1 C6H12O6 + 6 O2.