It depends. The best white light LED lamps can meet or exceed the efficiency of compact fluorescent lamps—but many LEDs currently on the market do not. LEDs are sensitive to temperature and electrical conditions, and LED fixtures must be carefully designed to take this into account; many manufacturers are not yet experienced in such design.

However, research and development in this area is very active, and new generations of LED devices that are more energy efficient will be appearing on the market within a few years. The U.S. Department of Energy states, “The energy efficiency of LEDs is expected to rival the most efficient white light sources by 2010.”

Source: UF/IFAS Energy Efficient Homes: Introduction to LED Lighting, Barbara Haldeman, Wendell A. Porter, Kathleen C. Ruppert, 2008.

Additional Resources

UF IFAS Energy Efficient Homes: Introduction to LED Lighting - http://edis.ifas.ufl.edu/FY1049 

Using LEDs for General Illumination http://www1.eere.energy.gov/buildings/ssl/using_leds.html

Solid State Lighting Luminaires http://www.energystar.gov/index.cfm?c=new_specs.ssl_luminaires 

Introduction to LED Lighting - http://lightingdesignlab.com/articles/LED_fund/intro_ledfund.htm