I need a little more teaching here. I've never seen this formula before. I always thought it was (put simply): WATTS (energy)= LIGHT (energy) + HEAT (energy), with the heat component being the inefficiency when discussing lights.
As far as the most lumens per watt, I think LPS would win hands down, with some flourescents coming in second. But we do know that LPS is ineffective for growing when compared to the more balanced spectrum (or more PAR specific) of a HID light (MH/HPS).
So, with LED putting out less heat (converting more energy to light), I would assume they are efficient. Then going 1 step further as it relates to indoor growing, LED's are capable of producing light waves in pinpoint spectrum (in nanometers) that plants respond most to- making them very efficient for our purposes.
But, my understanding is that the costs of producing the leds in the precise nm range is what's costly and still not commercially available yet. That is why I have not used LED lighting yet for growing- however I do use them in my field of work- they're bright, but not exact for growing.
But, as to the OP's question, I have no experience using LED's for growing- sorry I can't help.