I just took the Certified Energy Manager's course last week. My company does energy management contracts, etc.
LEDs are expensive, but will save you money in the long run as far as energy use is concerned. The payback depends how long you operate the lamps, but you also don't have to replace them as frequently. So, there are some labor savings there, especially in citys and towns that are going to the LED street lamps.
The most important thing to remember is buy an LED lamp is to be sure the lamp has a good warranty (5 years or more). The LED lighting circuit is the most sensitive part of the lamp and the cheap ones aren't as good as the more expensive ones.
One thing I learned in the course is the old sodium lamps actually have more lumen output per watt than the LED lights, but the LEDs appear brighter because their light output is spread more evenly than the sodium lamps.
So if you have a parking lot the one lit by LEDs will appear brighter than the one lit by sodium lamps.
Just imagine if all security light and parking lot lamps were all replaced by LED lights. We would save several million KWH or more off the electric grid. Therefore burning less foreign oil or conserving more of our own natural gas.