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A good design will deliver more power to the LED rather than wasting power in the driver circuitry in the form of dissipated heat.  For capacitors, Equivalent Series Resistance (ESR) comes into play.  An ultra-low ESR electrolytic will lower power consumption.  The Panasonic FP series is an ideal choice for output capacitors because of its ultra-low ESR which is 30~50% lower than the low ESR FK Series.