The main cost to LED’s is that they all have to have a transformer. LED’s run at low voltages, like 5v, so house current has to be stepped down at every bulb. LED’s in theory should run cool and be cheap, but they are expensive and run hot because of the transformers.
Which leads me to wonder whether we may start wiring houses for 12v in parallel to 110v. When I grew up, nearly everything I plugged into the wall — lights, motors, appliances — ran on 110V. Now, most everything (other than appliances) that I plug in the wall actually needs 5-12v (computers, cell phones, all my audio equipment except big amps). I don’t know enough about power lines to know if this is feasible. I am pretty sure the resistance losses for 12V DC would be too high, so it would have to be 12V AC, but a diode bridge and some capacitors is a hell of a lot smaller and cheaper than a full blown transformer. I know my landscape lighting has long runs of 12V, that seems to work OK. It is also a hell of a lot safer to work with.
Obviously, would be a long term change. But if LEDs take off, we’re all using 5 volt bulbs or whatever, would it be sensible to rewire rather than keep buying the transformer in each and every bulb?