CO2 (carbon dioxide) is used in planted aquariums, as most feel it's absolutely vital for plant growth.
Here is an example of equipment used for adding CO2. The main things the equipment does is produce the gas, then dissolve the gas in the water, then inject it into the tank. Some people use yeast, sugar, and water to produce the CO2 gas, some buy it in tanks, then use the equipment to add it.
The test is important because adding CO2 to the tank lowers the pH. You don't want to add too much, because you will make the water too acidic. Some of the most expensive equipment is completely automatic, which uses a tank, a "reactor" which dissolves the CO2 gas into the water, and an electronic pH monitor so that it turns off the CO2 when pH drops too low.
I have plants but don't use CO2, I use an alternative product called Flourish Excel. Plants don't
really want CO2, what they want is the carbon, and they get it from the CO2. Excel is carbon that is in a molecular form that plants (in theory) produce when they use CO2. I have found that it can sustain some plants and provide growth, but not as good as CO2. The reason I don't use CO2 is because I don't have enough room in my tank for the equipment.