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Definition
The Reflectance describes how much light is reflected from a surface or optical element. It is equal to the ratio of reflected power and incident power when light is shot onto a surface.
The Transmittance describes how much light is transmitted from a surface or optical element. It is equal to the ratio of transmitted power and incident power when light is shot onto a surface.
Spherical receivers (e.g. Integrating spheres) are often used for such measurements.