Lighting
Waiting for Lumen
Light Types
Directional: Outdoor lights or lights from extreme or near-infinite distances
Point light: Light bulb style that emit on all directions from a single point
Spot light : From a single point but limited by a set of cones
Sky light: Capture background of scene and apply it as light
Rect: Emit light from a rectecgular plane
Light Mobility
The mobility setting changes how the engine handles lighting and shadowing.
Static
Lights that cannot change or move in any way at runtime.
Lighting and shadows precalculated.
Memory for lightmaps.
Stationary
Lights that can change some parameters but can not move.
Bakes light and shadows for static objects also cast dynamic shadows for moveables (only four overlapping)
Movable
Completly dynamic light and shadows that can change any proptery they have at runtime.
Lighting and shadows calculated almost every frame
Links
Some brief thoughts on how Nanite in UE5 possibly works....
Some thoughts on Unreal 5's Nanite - in way too many words
UE4 - Physical light unit - Twitter Thread
How Epic Games is handling auto exposure in 4.25
Dynamic Lighting vs Baked Lighting (UE4) - Which Should You Use?
https://www.youtube.com/watch?v=u2AUJLvawCM