LEDs work that's all there is too it. How well do they work, in the right hands very well so far. The good LED's produce the best results, like they say you can buy the hay before it goes through the cow or after.
The one issue I have is all the LED's on the market have commercial LED's in them not Agricultural LED's which are available but more money. The commercial ones are used for office, factory, street lighting and automotive to name a few. Wonder why, must be price?
The other issue I have is in the flower LED's, the amount of blue is critical and specific to each plant species. Only after extensive testing can this be determined. Present research supports this with examples of Blue light requirements ranging from 6% to 80% for different plants. Plants will use what ever they can get but that does not mean it's the best for the plant. More research is needed in this area.
Plants need both red and blue light for photosynthesis.
Red light is very important to plant reproduction. Phytochrome pigments absorb the red and far red portions of the light spectrum and regulate seed germination, root development, tuber and bulb formation, dormancy, flowering and fruit production. Therefore, red light is essential for stimulation of flowering and fruiting.
Blue light stimulates
Chlorophyll production more than any other colour, encouraging thick leaves, strong stems and compact vegetative growth.
Chlorophyll absorbs blue and red light and transmits the energy to a pigment-based electron transport chain. The energy is ultimately used to produce high-energy chemical bonds that can be used for a range of biochemical transformations, including fixation of carbon-dioxide into sugars. Carotenoids, the yellow-orange pigment in plants, absorb blue light and control leaf fall and fruit ripening. Riboflavin (Vitamin B2) absorbs violet light and influences "phototropism", the movement of plant foliage in response to light.