Knowledge gained from this study is expected to result in new ways to design LEDs that will have significantly higher light emission efficiencies. LEDs have enormous potential for providing long-lived high quality efficient sources of lighting for residential and commercial applications. The U.S. Department of Energy recently estimated that the widespread replacement of incandescent and fluorescent lights by LEDs in the U.S. could save electricity equal to the total output of fifty 1GW power plants.

http://www.eurekalert.org/pub_releases/2013-04/uoc–col042213.php