Commentary

As you have heard, LED lights are the next big thing in energy efficient lighting.  They are still quite expensive but the hope is that the prices will be dropping over time.  They are even more efficient than the highly efficient compact fluorescent bulbs. 

The product EFI showed me is called the LR6 LED Downlight (Ok, the name is not super catchy) from Cree Lighting Solutions, Inc., in North Carolina.  The idea is to create a very efficient light that is easy to retro-fit into an existing recessed lighting fixture, that creates a very high quality of light.  The LR6 does quite well.  It replaces a 70 watt bulb and only uses 12 watts.  It screws into the existing light bulb socket eliminating the need to reinstall a new recessed can unit.  The light quality is very high (CRI=92) and the light lasts for 50,000 hours or 15 years.  It costs roughly $100 but saves $348 in electricity and $10 or so in incandescent light bulbs over the 15 years.

Go to Cree Lighting or EFI for more details.