LED lighting technology is fast approaching maturity. We are at a stage where we now specify LED lighting as a matter of course for certain applications.
Today, LED lighting can deliver colour temperatures ranging between 2700K (warm white) to 4000K (cool white) that maintain a very high colour rendering quality that are similar to fluorescent lamps.
Lighting efficiency: LED light sources beats all other light sources hands down. Simple comparison courtesy of the European Commission is shown below.
Pricing of LED lamps and fittings have come down substantially. For example at present prices, an LED downlight retails at around $50 compared to $25 per halogen recessed down light. Still double in price but once thermal stability, heat shielding and energy costs are taken into account, overall costs can be demonstrated to be similar at day one and much less in the long run.