While we have all been converting our homes, offices and public spaces to the compact florescent light bulb (CFL), the next and maybe last conversion in general lighting is the LED.
LED stand for Light-Emitting Diode. Introduced as a practical electronic component in 1962, early LEDs emitted low-intensity red light, but modern versions are available across the visible, ultraviolet, and infrared wavelengths, with very high brightness. It is essentially a miniature light source (semiconductor) in a plastic lens. LEDs produce light when electrons inside the diode, excited by the flow of current, release energy in the form of light protons. LED lighting is ultra-compact and dramatically more efficient that traditional incandescent bulbs - up to 85% more efficient - and over 10% more efficient that compact florescent bulbs (CFLs).
The move to develop this type of lighting option for general widespread use is due to the fact that LEDs have lower energy consumption, longer life, less heat, smaller size and brighter and more consistent light.
LEDs can give off different colors of light depending upon the energy gap of the semiconductor. Blue, Green and Red are the colors we are most familiar with. Look for the potential of LED lighting in our offices in the future.
Just imagine, you could install an LED bulb in your newborn's room today, and probably not have to replace that bulb until your child is off to college. And, because LED bulbs are based on solid-state lighting technology, there is not a filament to burn out as with incandescent bulbs. Nor do they contain mercury and other toxic material.
(Source information from the HOME DEPOT website and Wikipedia)