Compensation point
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The compensation point is the amount of light intensity on the light curve where the rate of photosynthesis exactly matches the rate of respiration. At this point, the uptake of CO2 through photosynthetic pathways is exactly matched to the respiratory release of carbon dioxide, and the uptake of O2 by respiration is exactly matched to the photosynthetic release of oxygen. This point is reached during early mornings and late evenings.
At the compensation point, the rate of photosynthesis is balanced to the rate of respiration so that the plant is neither consuming nor building biomass.
For aquatic plants where the level of light at any given depth is roughly constant for most of the day, the compensation point is the depth at which light penetrating the water creates the same balanced effect.