Advantages:
1) Size: LEDs can be very small (smaller than 2 mm2) and are easily populated onto printed circuit boards.
2) Cycling: LEDs are ideal for use in applications that are subject to frequent on-off cycling, unlike fluorescent lamps that burn out more quickly when cycled frequently, or HID lamps that require a long time before restarting.
3) Efficiency: LEDs produce more light per watt than incandescent bulbs. Their efficiency is not affected by shape and size, unlike Fluorescent light bulbs or tubes.
4) Focus: The solid package of the LED can be designed to focus its light. Incandescent and fluorescent sources often require an external reflector to collect light and direct it in a usable manner.
5) Slow failure: LEDs mostly fail by dimming over time, rather than the abrupt burn-out of incandescent bulbs.
6) Shock resistance: LEDs, being solid state components, are difficult to damage with external shock, unlike fluorescent and incandescent bulbs which are fragile.
7) Toxicity: LEDs do not contain mercury, unlike fluorescent lamps.
8) Color: LEDs can emit light of an intended color without the use of the color filters that traditional lighting methods require. This is more efficient and can lower initial costs.
9) Dimming: LEDs can very easily be dimmed either by pulse-width modulation or lowering the forward current.
10) Cool light: In contrast to most light sources, LEDs radiate very little heat in the form of IR that can cause damage to sensitive objects or fabrics. Wasted energy is dispersed as heat through the base of the LED.
11) Lifetime: LEDs can have a relatively long useful life. One report estimates 35,000 to 50,000 hours of useful life, though time to complete failure may be longer. Fluorescent tubes typically are rated at about 10,000 to 15,000 hours, depending partly on the conditions of use, and incandescent light bulbs at 1,000–2,000 hours.
12) On/Off time: LEDs light up very quickly. A typical red indicator LED will achieve full brightness in microseconds. LEDs used in communications devices can have even faster response times.
Disadvantages:
Some Fluorescent lamps can be more efficient.
1) Blue hazard: There is a concern that blue LEDs and cool-white LEDs are now capable of exceeding safe limits of the so-called blue-light hazard as defined in eye safety specifications such as ANSI/IESNA RP-27.1-05: Recommended Practice for Photobiological Safety for Lamp and Lamp Systems.
2) Light quality: Most cool-white LEDs have spectra that differ significantly from a black body radiator like the sun or an incandescent light. The spike at 460 nm and dip at 500 nm can cause the color of objects to be perceived differently under cool-white LED illumination than sunlight or incandescent sources, due to metamerism, red surfaces being rendered particularly badly by typical phosphor based cool-white LEDs. However, the color rendering properties of common fluorescent lamps are often inferior to what is now available in state-of-art white LEDs.
3) Temperature dependence: LED performance largely depends on the ambient temperature of the operating environment. Over-driving the LED in high ambient temperatures may result in overheating of the LED package, eventually leading to device failure. Adequate heat-sinking is required to maintain long life. This is especially important when considering automotive, medical, and military applications where the device must operate over a large range of temperatures, and is required to have a low failure rate.
4) Blue pollution: Because cool-white LEDs (i.e., LEDs with high color temperature) emit proportionally more blue light than conventional outdoor light sources such as high-pressure sodium lamps, the strong wavelength dependence of Rayleigh scattering means that cool-white LEDs can cause more light pollution than other light sources. The International Dark-Sky Association discourages the use of white light sources with correlated color temperature above 3,000 K.
5) Voltage sensitivity: LEDs must be supplied with the voltage above the threshold and a current below the rating. This can involve series resistors or current-regulated power supplies.
6) High initial price: LEDs are currently more expensive, price per lumen, on an initial capital cost basis, than most conventional lighting technologies. The additional expense partially stems from the relatively low lumen output and the drive circuitry and power supplies needed.
7) Area light source: LEDs do not approximate a “point source” of light, but rather a lambertian distribution. So LEDs are difficult to use in applications requiring a spherical light field. LEDs are not capable of providing divergence below a few degrees. This is contrasted with lasers, which can produce beams with divergences of 0.2 degrees or less.