what's possible, What is the upper end of efficiency?

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Efficacy, efficiency, and environmental impact
Xenon halogen lamp with an E27 base, which can replace a non-halogen bulbOf the power consumed by typical incandescent light bulbs, 95% or more is converted into heat rather than visible light.[1] Other electrical light sources are more effective.

Luminous efficacy of a light source may be defined in two ways. The radiant luminous efficacy (LER) is the ratio of the visible light flux emitted (the luminous flux) to the total power radiated over all wavelengths. The source luminous efficacy (LES) is the ratio of the visible light flux emitted (the luminous flux) to the total power input to the source, such as a lamp.[47] Visible light is measured in lumens, a unit which is defined in part by the differing sensitivity of the human eye to different wavelengths of light. Not all wavelengths of visible electromagnetic energy are equally effective at stimulating the human eye; the luminous efficacy of radiant energy (LER) is a measure of how well the distribution of energy matches the perception of the eye. The units of luminous efficacy are “lumens per watt” (lpw). The *maximum LER possible is 683 lm/W for monochromatic green light at 555 nanometers wavelength, the peak sensitivity of the human eye.

*The luminous efficiency is defined as the ratio of the luminous efficacy to the theoretical maximum luminous efficacy of 683 lpw, and, as for luminous efficacy, is of two types, radiant luminous efficiency (LFR) and source luminous efficacy (LFS).

The chart below lists values of overall luminous efficacy and efficiency for several types of general service, 120-volt, 1000-hour lifespan incandescent bulb, and several idealized light sources. The values for the incandescent bulbs are source efficiencies and efficacies. The values for the ideal sources are radiant efficiencies and efficacies. A similar chart in the article on luminous efficacy compares a broader array of light sources to one another.

Type Overall luminous efficiency Overall luminous efficacy (lm/W)
40 W tungsten incandescent 1.9% 12.6[1]
60 W tungsten incandescent 2.1% 14.5[1]
100 W tungsten incandescent 2.6% 17.5[1]
glass halogen 2.3% 16
quartz halogen 3.5% 24
photographic and projection lamps with very high filament temperatures and short lifetimes 5.1% 35[48]
ideal black-body radiator at 4000 K (or a class K star like Arcturus) 7.0% 47.5
ideal black-body radiator at 7000 K (or a class F star like Procyon) 14% 95
ideal monochromatic 555 nm (green) source 100% 683[49]

The spectrum emitted by a blackbody radiator at temperatures of incandescent bulbs does not match the sensitivity characteristics of the human eye; the light emitted does not appear white, and most is not in the range of wavelengths at which the eye is most sensitive. Tungsten filaments radiate mostly infrared radiation at temperatures where they remain solid – below 3,695 K (3,422 °C; 6,191 °F). Donald L. Klipstein explains it this way: “An ideal thermal radiator produces visible light most efficiently at temperatures around 6,300 °C (6,600 K; 11,400 °F). Even at this high temperature, a lot of the radiation is either infrared or ultraviolet, and the theoretical luminous efficacy (LER) is 95 lumens per watt.”[48] No known material can be used as a filament at this ideal temperature, which is hotter than the sun’s surface. An upper limit for incandescent lamp luminous efficacy (LER) is around 52 lumens per watt, the theoretical value emitted by tungsten at its melting point.[45]

Although inefficient, incandescent light bulbs have an advantage in applications where accurate color reproduction is important, since the continuous blackbody spectrum emitted from an incandescent light-bulb filament yields near-perfect color rendition, with a color rendering index of 100 (the best possible).[50] White-balancing is still required to avoid too “warm” or “cool” colors, but this is a simple process that requires only the color temperature in Kelvin as input for modern, digital visual reproduction equipment such as video or still cameras unless it is completely automated. The color-rendering performance of incandescent lights cannot be matched by LEDs or fluorescent lights, although they can offer satisfactory performance for non-critical applications such as home lighting.[51][52] White-balancing such lights is therefore more complicated, requiring additional adjustments to reduce for example green-magenta color casts, and even when properly white-balanced, the color reproduction will not be perfect.

We shouldn't assume light in spectrums that we cannot see isn't useful . How else will keep the things under our beds at bay and how will we cook Vampires and Zombies when they come for our snacks .

Given that led technology with respect to high CRI applications is still in it’s infancy I would not bet against substantial improvements given the growth of the industry and the apparent need for low energy, high CRI illumination.