Lumen efficacy is simply how many lumens a light source spits out per watt of electricity it pulls from the wall. You calculate it by dividing total lumens by total watts. A fixture rated at 20.000 lumens drawing 150 watts gives you about 133 lm/W. The higher that number, the more light you get for every dollar spent on power. It's the efficiency metric that actually matters for your electric bill, not the vague "watt equivalent" marketing numbers you see on boxes.
Here's why you need to care. Old metal halide or fluorescent high bays struggle to break 70 to 100 lm/W once you account for ballast losses. Good LED fixtures today hit 130 to 180 lm/W straight out of the box. That jump alone cuts your lighting energy use by half or more. But watch out: some cheap fixtures quote raw LED chip efficacy, not the whole fixture's rating after driver losses and optics. Look for "fixture efficacy" on the spec sheet. And efficacy isn't everything—a 200 lm/W corn bulb with terrible beam control wastes light into the ceiling. But for the same fixture type, higher lm/W means less heat, smaller drivers, and lower operating costs. Period.