Power conversion relates to the relationship between voltage (V), current (I), and power (P) in electrical circuits, defined by the equation P=IV. For a torch bulb rated at 3V and 0.5A, the power can be calculated by multiplying these values, resulting in 1.5 watts. The units confirm that voltage is in joules per coulomb, current in coulombs per second, leading to power measured in watts (joules per second). Understanding these conversions is crucial for accurately determining power usage in electrical devices. This knowledge is essential for anyone working with electrical circuits.