LED is really the direction landscape lighting is headed. There are two ways to buy LED products. One way is to buy LED fixtures where the bulb and the fixture are one unit and the other way is to buy a regular fixture intended for incandescent bulbs but then use a retrofit LED bulb in the fixture. I prefer to use the retrofit bulbs in a regular fixture to help keep the costs down some.
An incandescent bulb that’s cost $7 will generally cost about $35 for an LED version. Because the LED bulbs will last at least 5-10 times longer and use 90% less power it’s a sound investment to spend the extra money on LED’s. You will invest more in the bulbs for an LED system but you can use a smaller transformer and a smaller gauge of wire so there will be some cost savings as well.