Hi @HamidBee
There are two versions of SharePoint: SharePoint On-premises and SharePoint Online. SharePoint On-premises(or SharePoint) is deployed on-premises in organizational servers. While SharePoint Online is the cloud-based version of it, which is hosted on Microsoft Data Centers in different parts of the world. You can see more comparison from this article: SharePoint vs SharePoint Online - Full Comparison | Codevision
SharePoint List is created and stored in SharePoint On-premises Server while SharePoint Online List is hosted in SharePoint Online Service.
In Power BI, SharePoint List connector is able to connect to SharePoint lists in both SharePoint On-premises and SharePoint Online. SharePoint Online List connector is only able to connect to SharePoint Online. Currently there is 1.0 implementation and 2.0 implementation of SharePoint Online List connector. For detailed information about both connectors, you can refer to the following docs:
Power Query SharePoint list connector - Power Query | Microsoft Learn
Power Query SharePoint Online list connector - Power Query | Microsoft Learn
In addition, there is a similar thread for your reference: Difference between Sharepoint list vs. Sharepoint ... - Microsoft Power BI Community
Best Regards,
Community Support Team _ Jing
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