That is, two electrons per atomic orbital, each with a different spin.
As shown at Schrödinger equation solution for the helium atom, they do repel each other, and that affects their measurable energy.
However, this energy is still lower than going up to the next orbital. TODO numbers.
This changes however at higher orbitals, notably as approximately described by the aufbau principle.
Boring rule that says that less energetic atomic orbitals are filled first.
Much more interesting is actually determining that order, which the Madelung energy ordering rule is a reasonable approximation to.
We will sometimes just write them without superscript, as it saves typing and is useless.
The principal quantum number thing fully determining energy is only true for the hydrogen emission spectrum for which we can solve the Schrödinger equation explicitly.
For other atoms with more than one electron, the orbital names are just a very good approximation/perturbation, as we don't have an explicit solution. And the internal electrons do change energy levels.
Note however that due to the more complex effect of the Lamb shift from QED, there is actually a very small 2p/2s shift even in hydrogen.
Looking at the energy level of the Schrödinger equation solution for the hydrogen atom, you would guess that for multi-electron atoms that only the principal quantum number would matter, azimuthal quantum number getting filled randomly.
However, orbitals energies for large atoms don't increase in energy like those of hydrogen due to electron-electron interactions.
In particular, the following would not be naively expected:
  • 2s fills up before 2p. From the hydrogen solution, you might guess that they would randomly go into either one as they'd have the same energy
  • in potassium fills up before 3d, even though it has a higher principal quantum number!
This rule is only an approximation, there exist exceptions to the Madelung energy ordering rule.
The most notable exception is the borrowing of 3d-orbital electrons to 4s as in chromium, leading to a 3d5 4s1 configuration instead of the 3d4 4s2 we would have with the rule. TODO how is that observed observed experimentally?
This notation is so confusing! People often don't manage to explain the intuition behind it, why this is an useful notation. When you see Indian university entry exam level memorization classes about this, it makes you want to cry.
The key reason why term symbols matter are Hund's rules, which allow us to predict with some accuracy which electron configurations of those states has more energy than the other.
web.chem.ucsb.edu/~devries/chem218/Term%20symbols.pdf puts it well: electron configuration notation is not specific enough, as each such notation e.g. 1s2 2s2 2p2 contains several options of spins and z angular momentum. And those affect energy.
This is why those symbols are often used when talking about energy differences: they specify more precisely which levels you are talking about.
Basically, each term symbol appears to represent a group of possible electron configurations with a given quantum angular momentum.
We first fix the energy level by saying at which orbital each electron can be (hyperfine structure is ignored). It doesn't even have to be the ground state: we can make some electrons excited at will.
The best thing to learn this is likely to draw out all the possible configurations explicitly, and then understand what is the term symbol for each possible configuration, see e.g. term symbols for carbon ground state.
It also confusing how uppercase letters S, P and D are used, when they do not refer to orbitals s, p and d, but rather to states which have the same angular momentum as individual electrons in those states.
It is also very confusing how extremelly close it looks to spectroscopic notation!
The form of the term symbol is:
The can be understood directly as the degeneracy, how many configurations we have in that state.
Video 1. Atomic Term Symbols by TMP Chem (2015) Source.
Video 2. Atomic Term Symbols by T. Daniel Crawford (2016) Source.
Allow us to determine with good approximation in a multi-electron atom which electron configuration have more energy. It is a bit like the Aufbau principle, but at a finer resolution.
Note that this is not trivial since there is no explicit solution to the Schrödinger equation for multi-electron atoms like there is for hydrogen.
For example, consider carbon which has electron configuration 1s2 2s2 2p2.
If we were to populate the 3 p-orbitals with two electrons with spins either up or down, which has more energy? E.g. of the following two:
m_L -1  0  1
    u_ u_ __
    u_ __ u_
    __ ud __
Higher spin multiplicity means lower energy. I.e.: you want to keep all spins pointin in the same direction.