LEDs are more efficient at lower drive levels. This means that slow, unfiltered PWM is less efficient than filtered and smoothed output, known as "current regulation." This is because an ordinary PWM light is active part of the time and completely off at other times, but during the active portion, the LED is being driven at full blast, which is comparatively inefficient. Therefore, a multi-emitter, current-regulated light is more efficient than a single-emitter, PWM light, as the LEDs in a multi-emitter light will operate more efficiently (and use less power) than the LED in a single-emitter light when pushed to the same amount of output.

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