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It serves as the Primary source of Organic food, energy (ATP) and Oxygen for all forms of life.

In any ecosystem, Green Plants being the Primary producers represent the most essential biotic component

Photosynthesis releases Oxygen thereby helps to purify air. It also maintains the Oxygen and Carbon Dioxide balance in Nature. 

The excess of sugars released as a byproduct in photosynthesis are either stored in the form of Carbohydrates or used  in the biosynthesis of other molecules.

Production of Biofuels, Fossil Fuels like Natural Gas, Coal, Petroleum which are energy rich materials of organic origin.
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