According to a Department of Energy report, LED lamps have an environmental edge over compact fluorescent lamps, and create a significantly lower environmental impact than incandescent lighting over the lifetime of the products.
The study is just a part of a DOE project to assess the life-cycle costs of LED lighting products. It found that the energy LED lights consume during operation makes up the majority of their environmental impact, specifically not during the manufacturing and transportation process.
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Source: Environmental Leader