Does LED efficiency increase with lower drive currents?

Electromechanical Optoelectronics
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Yes, operating a given emitter at reduced drive current levels typically does yield an increase in luminous efficacy (lumens/watt), because LEDs are not strictly linear in terms of this behavior. Higher per-strip drive levels promote higher operating temperatures, which depending on the scenarios one chooses to compare can cause reductions in efficacy on the order of 5 to 20%.