An LED is a two terminal semiconductor light source
In the unbiased condition a potential barrier is developed across the p-n junction of the LED.
When we connect the LED to an external voltage in the forward biased direction
the height of potential barrier across the p-n junction is reduced
At a particular voltage the height of potential barrier becomes very low and the LED starts glowing
i.e., in the forward biased condition electrons crossing the junction are excited
and when they return to their normal state
energy is emitted
This particular voltage is called the knee voltage or the threshold voltage
Once the knee voltage is reached
the current may increase but the voltage does not change
The light energy emitted during forward biasing is given as