Many explosive plasma phenomena are powered by magnetic reconnection. Striking evidence of such events is found in short bursts of radiation from energetic electrons with energies much larger than what is typical of the ambient medium. Reconnection is a fundamentally multi-scale process that couples the global scale over which energy accumulates with small-scale dissipation. These macro- and micro-scales are bridged by a mesoscale of coherent magnetic structures that facilitate rapid energy conversion. Although there are many channels by which reconnection may release magnetic energy, a guiding-center approach distills electron energy gain into three basic mechanisms: parallel electric fields, Fermi reflection, and betatron acceleration. An efficient mechanism must scale strongly with the particle energy and operate over a globally significant region. These criteria favor the Fermi mechanism, which operates in volume-filling plasmoids. The guide field plays a critical role, facilitating three-dimensional transport that enables high-energy particles to continuously access acceleration sites, yet suppressing acceleration if the guide field is much larger than the reconnecting field. Open issues include the conditions necessary for power-law formation, the roles of scattering and plasma compression, and differences between the relativistic and nonrelativistic regimes. New high-resolution observations in the earth's magnetosphere offer a timely opportunity to test the predictions of numerical studies. On the other hand, understanding solar flares, where the global and dissipative scales are separated by many orders of magnitude, requires hybrid models that incorporate both the global evolution of the magnetic field and the self-consistent acceleration and feedback of energetic particles.
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