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Some Turkish scientists have made a huge leap in LED efficiency:
I just read the article. Note how it says 300 lumens per watt of BLUE LIGHT EMITTED. Anyone know the efficiency of blue LEDs? Without that information, the 300 lumens/watt figure is not necessarily as impressive as it sounds.
BTW, the theoretical maximum possible efficiency is 680 or so lumens/W, and that's for the most eye-sensitive green only. So although there is still room for improvement, I have a hunch development in this area is getting close to peaking out.