An Acronym for Advanced Configuration and Power Interface.
The newer interface for changing devices' power status (eg on standby, hibernating, etc); supersedes APM.
Some example uses:
Many newer laptops use ACPI exclusively without support for APM. Linux kernel 2.4.x had some support for ACPI, but kernel 2.6 should have much better support.
There is all kinds of interesting information inside /proc/acpi For example:
Is my Laptop Lid open? : cat /proc/acpi/button/lid/LID/state
The State of your laptops battery : cat /proc/acpi/battery/BAT1/state
This can tell you how much charge is left in your laptop battery and how long until it is depleted.
Example Output:
See also: the ACPI specification
3 pages link to ACPI: