Yes, I would imagine that. I suppose what I was really asking (at least, in my mind ) is whether anyone was aware of any emerging technologies which might in the future represent a more efficent way of converting electrical energy into light. I believe that some chemico-luminescence and bio-luminescence processes are very efficient - but that, of course, is not a case of converting electrical energy into light - but, if true, that may offer some clues.No good for a reading by, but a semiconductor laser should be more efficient than an LED in terms of power out/power in.
I assume that anything approaching 100% efficiency will probably never be possible, since (no matter how generated) some photons are almost bound to hit something, and in the process will presumably result in some energy being converted into something other than visible light.
Kind Regards, John.