As far as we know, LEDs are brighter and less expensive than ever, and way more efficient than even compact fluorescents (CFLs) and, certainly, ordinary light bulbs.
That’s because LEDs last about 60,000 hours, compared to 10,000 for CFLs, and 1,500 for old-school incandescents. LEDs use less energy than incandescents (about 1/10th) and CFLs (about half), since they produce comparatively little heat - all their energy is used for light. Although LEDs are currently a lot more expensive than CFLs or regular bulbs, replacing an incandescent bulb with a LED can save you more than $700 over its lifetime. Even if the mercury CFLs contain is minimal, LEDs are even better, with none at all.
So, LED Lighting is becoming the next big thing in energy-efficient lighting.