Observations of the space-time variability of precipitation around the globe are imperative for understanding how climate change affects the global energy and water cycle (GWEC) in terms of changes in regional precipitation characteristics (type, frequency, intensity), as well as extreme hydrologic events, such as floods and droughts. The GWEC is driven by a host of complex processes and interactions, many of which are not yet well understood. Precipitation, which converts atmospheric water vapor into rain and snow, is a central element of the GWEC.