MIT physicists have managed to build a light-emitting diode that has an electrical efficiency of more than 100 percent. You may ask, "Wouldn't that mean it breaks the first law of thermodynamics?" The answer, happily, is no.
The LED produces 69 picowatts of light using 30 picowatts of power, giving it an efficiency of 230 percent. That means it operates above "unity efficiency" -- putting it into a category normally occupied by perpetual motion machines.
However, while MIT's diode puts out more than twice as much energy in photons as it's fed in electrons, it doesn't violate the conservation of energy because it appears to draw in heat energy from its surroundings instead. When it gets more than 100 percent electrically-efficient, it begins to cool down, stealing energy from its environment to convert into more photons.
In slightly more detail, the researchers chose an LED with a small band gap, and applied smaller and smaller voltages. Every time the voltage was halved, the electrical power was reduced by a factor of four, but the light power emitted only dropped by a factor of two. The extra energy came instead from lattice vibrations.
On the same subject from:http://www.physorg.com/news/2012-03-efficiency.html
An LED’s power conversion (wall-plug) efficiency varies inversely with its optical output power. Wall-plug efficiency can exceed 100%, the unity efficiency, at low applied voltages and high temperatures. Image credit: Santhanam, et al. ©2012 American Physical Society
(PhysOrg.com) -- For the first time, researchers have demonstrated that an LED can emit more optical power than the electrical power it consumes. Although scientifically intriguing, the results won’t immediately result in ultra-efficient commercial LEDs since the demonstration works only for LEDs with very low input power that produce very small amounts of light.
In other words, there is no funding available for it from the private sector and the government research funding won't be satisfactory to bring it to the consumer anytime soon.