So, dumb question here. As I understand it, the main reason for increased efficiency in LEDs is decreased wavelength of light output, focusing in visible spectr

So, dumb question here. As I understand it, the main reason for increased efficiency in LEDs is decreased wavelength of light output, focusing in visible spectrum. The bulb itself is a bit cooler than incandescent, but LED bulbs have these massive heatsinks for the electronics. It seems like there is still a lot of energy being lost as heat -- is much of this expected to be recoverable, and efficiency to continue increasing?