The ability of a study to demonstrate an association or causal relationship between two variables, given that an association exists.
For example, 80% power in a clinical trial means that the study has a 80% chance of ending up with a p value of less than 5% in a statistical test (i.e., a statistically significant treatment effect), if there really was an important difference (e.g., 10% versus 5% mortality) between treatments.
If the statistical power of a study is low, the study results will be questionable (the study may have been too small to detect any differences). By convention, 80% is an acceptable level of power.

Bandolier. EBM glossary. Internet. Accessed on July 3, 2009.