With the continual global increase of PV power systems and the inherent weather-induced volatility of their power output, understanding the underlying variability of solar radiation in both space and time is important for the planning and reliable operation of future power grids. This paper concisely reviews recent advances in the characterization of irradiance variability with an emphasis on small spatial and temporal scales (respectively less than about 10\,km and 1\,min), for which comprehensive data sets are time consuming and expensive to collect, and although needed have not been available until recently. Special attention is given to studies dealing with the quantification of variability using such unique data, the analysis and modeling of spatial smoothing, and the evaluation of temporal averaging.