This thesis examines the interrelationship of the size of the magnetic structures on the Sun, particularly faculae, and the solar irradiance variations which are of significance for the understanding of the solar dynamics and the climate of the Earth. Using the high-resolution data coming from the Sunrise I Balloon-Borne Solar Observatory and the broader observations of the Precision Solar Photometric Telescope (PSPT), this study investigates the magnetic activity of the Sun and its nature, the implications, and the physics behind it. Through an analysis encompassing observational data and sophisticated MURaM simulations, the research delineates the nuanced interplay between magnetic field strength, structure size, and solar irradiance. Key findings highlight a significant correlation between the size of solar magnetic structures and their magnetic potency, offering new insights into the complex mechanisms driving solar luminosity variations. The study also deals with the methodological difficulties in comparing high-resolution observations with synthetic spectra and stresses the need to replicate the instrumental and atmospheric effects in simulations. The combination of observational and simulated data not only deepens our knowledge of solar magnetic fields but also highlights the possible effects of solar irradiance fluctuations on space weather and terrestrial climate systems. This thesis makes a considerable contribution to the field of solar physics by providing a holistic study of solar magnetic structures which in turn helps us to understand the Sun’s role in the solar-terrestrial environment and the prospects for future research on solar dynamics and climate impact.</p