Instantaneous power in an electrical circuit comes from the voltage across an element and the current through it. It is written as p(t) and follows the passive sign convention. For sinusoidal input, this product helps show how power changes at each moment.
When instantaneous power is expanded, it has two parts. One part is constant and depends on the phase difference between voltage and current. The other part is a sinusoidal term that varies at twice the frequency of the voltage or current.