Radiance
Power per unit area per unit solid angle, in W/(m²·sr): the radiometric measure of how bright a source looks, independent of distance. Passive optics cannot increase it. The Sun's radiance is about 2.0 × 10⁷ W/(m²·sr); a 1 mW helium-neon laser's is about 2.5 × 10⁹, over a hundred times higher.
Radiance describes light leaving or crossing a surface in a particular direction: the power emitted from a small area into a small solid angle at angle to the surface normal,
in W/(m²·sr). It is the quantity a camera pixel or the eye responds to when viewing an extended source, and it is what "brightness" means in radiometry. Unlike irradiance, which falls with distance from a source, the radiance of an extended source is the same at any distance: a wall looks equally bright from near and far, because the smaller solid angle it fills is exactly offset by the larger area each detector element sees.
Conservation
In a lossless optical system, is conserved along a ray, where is the local refractive index. This is the radiance theorem, equivalent to the conservation of étendue: lenses and mirrors can concentrate power onto a smaller area only by spreading it over a wider solid angle, so they can never make an image brighter than its source. It sets the limit on solar concentration, on how much LED light can be coupled into a fiber, and on the irradiance any lens can produce from a given lamp.
Typical values
Sunlight above the atmosphere delivers about 1361 W/m², and the Sun's disk subtends about 6.8 × 10⁻⁵ sr, so its average radiance is about 2.0 × 10⁷ W/(m²·sr). A 1 mW helium-neon laser with a 0.4 mm waist radius and a 0.50 mrad divergence emits from an area of about 5 × 10⁻⁷ m² into a solid angle of about 8 × 10⁻⁷ sr, a radiance of about 2.5 × 10⁹ W/(m²·sr), roughly 125 times the Sun's. Laser light is distinguished by this high radiance, which lets a milliwatt beam be focused to an irradiance that ordinary lamps cannot reach.
A Lambertian surface, a perfect diffuser, has the same radiance in all directions, and its exitance (total power emitted per unit area) is . White paper and ground glass are approximately Lambertian; the factor rather than comes from the weighting.
Photometric counterpart and measurement
Weighted by the eye's response, radiance becomes luminance, in candela per square metre, covered under brightness. Radiance is measured with a radiometer that has a defined field of view and aperture, so that both the area and the solid angle it accepts are known, or with a calibrated imaging camera; the instrument is calibrated against a standard source such as an integrating sphere of known radiance.
References: R. W. Boyd, Radiometry and the Detection of Optical Radiation (Wiley, 1983); ISO 80000-7:2019, Quantities and units: Light and radiation; G. Kopp, J. L. Lean, Geophys. Res. Lett. 38, L01706 (2011).