The ELC answer is that there will definitely be LED solutions for domestic lighting in the near future - indeed there already are many LED light sources in European homes and for sale in shops/large retail. 

You might be aware that the ELC has launched publicly a plan to support Government actions to phase out least efficient incandescent lamps in the home. The plan is that these inefficient light sources will be replaced by efficient incandescent & halogen but also by CFL's (energy savers) and LED solutions.

This article on LEDs was published in Electronics Weekly

LEDs – or Light-Emitting Diodes – are semiconductors that generate narrow-spectrum light when electrically biased in the forward direction of the p-n junction. This effect is a form of electroluminescence.

A single LED is often a small area source, usually with extra optics added to the chip that shapes its radiation pattern. The colour of the LED is a result of the composition and condition of the semiconducting material used and can range from infrared, to visible and near-ultraviolet.

In recent years, LEDs have come from only being little red dots that let users know if electrical appliances were switched on, to extremely bright light sources capable of lighting up a room or illuminating the road ahead of a vehicle.

Functioning like any other diode, an LED is comprised of a chip of semiconducting material steeped with impurities to create what is known as a p-n junction. Currents flow easily from the p-side – or the anode – to the n-side – or the cathode – but they do not move in the opposite direction. Charge-carriers such as electrons and holes flow into the p-n junction from electrodes with different voltages. When an electron meets a hole, it drops into a lower energy level and released energy in the form of a photon.

The wavelength of the light generated, which determines the colour produced, depends on the band gap energy of the materials forming the p-n junction. The materials used for an LED have a direct band gap with energies corresponding to near-infrared, visible or near-ultraviolet light.

LEDs will only work with positive electrical polarity. When the voltage flows in the correct direction, a significant current flows and the device is said to be forward-biased. If the voltage is of the wrong polarity, the device is said to be reverse biased, very little current flows and no light is generated. LEDs can work on an alternating current, but they will only emit light with positive voltage causing the LED to turn on and off at the frequency of the AC supply.

Advantages of LED

LEDS generate more light per watt than incandescent bulbs and manufacturers favour these in many battery powered or energy-saving devices. Also, LEDs can illuminate in their own colour without the need of colour filters that may increase production costs. LEDS can focus light on their own whereas incandescent and fluorescent sources need external equipment to collect and deflect light.

Disadvantages of LED

Calculated on an initial capital cost basis, LEDS are more expensive than other lighting technologies. LEDs cost more as they have a relatively low lumen output and the drive circuitry and power supplies needed are also more expensive. LEDs are also affected by the temperature of the operating environment. Operating an LED in extremely high temperatures may result in overheating, which could lead to failure of the device. Overheating is usually addressed by heatsinking the LED. Although LEDs are supposed to have a higher life expectancy than other lighting technologies, some cheap LEDs struggle to live.

Further information on LEDs

OLED: Not dead (But also not dominant)
Organic light-emitting diodes are one of those seemingly perpetual “almost-here” technologies, according to EDN Senior Technical Editor Brian Dipert.

Solar powered LED street lights
Communities across the world are standing by their commitment to preserving the environment by installing street lighting powered by the sun.

Photonic Lattice LEDs are new class of light-emitting device
Using photonic lattice technology it is possible to build large-area chips that enable ultra-high power sources for projection and other applications.

Still waiting for OLED TVs
OLED TVs have been promised for quite some time now and Sony, Samsung and Seiko Epson have built a prototype OLED panel.