Solid-state lighting is a rapidly evolving, emerging technology whose efficiency of conversion of electricity to visible white light is likely to approach 50% within the next several years. This efficiency is significantly higher than that of traditional lighting technologies, giving solid-state lighting the potential to enable significant reduction in the rate of world energy consumption. Further, there is no fundamental physical reason why efficiencies well beyond 50% could not be achieved, which could enable even more significant reduction in world energy usage. In this article, we discuss in some detail: (a) the several approaches to inorganic solid-state lighting that could conceivably achieve "ultra-high," 70% or greater, efficiency, and (b) the significant research questions and challenges that would need to be addressed if one or more of these approaches were to be realized.