OAKLAND, Calif. — ON Tuesday, the Royal Swedish Academy of Sciences awarded the 2014 Nobel Prize in Physics to three researchers whose work contributed to the development of a radically more efficient form of lighting known as light-emitting diodes, or LEDs.

In announcing the award, the academy said, “Replacing light bulbs and fluorescent tubes with LEDs will lead to a drastic reduction of electricity requirements for lighting.” The president of the Institute of Physics noted: “With 20 percent of the world’s electricity used for lighting, it’s been calculated that optimal use of LED lighting could reduce this to 4 percent.”

The winners, Shuji Nakamura, an American, and Isamu Akasaki and Hiroshi Amano, both from Japan, justly deserve their Nobel, and should be commended for creating a technology that produces the same amount of light with less energy.

But it would be a mistake to assume that LEDs will significantly reduce overall energy consumption.

LED’s are but the latest breakthrough in lighting efficiency. Consider the series of accelerated lighting revolutions ushered in by the Industrial Revolution. In the early and mid-1800s, for instance, “town gas” made from coal was developed and used to illuminate streetlights. Whale oil became the preferred indoor lighting fuel for upper-income Americans until it was replaced by more efficient kerosene lamps. And then, finally, in the late 19th century, the electric light bulb emerged.