What are LEDs?
Simply stated, LED’s are solid state PC circuit boards. Unlike conventional lamps (bulbs), LED’s do not have a filament. LED’s utilize semi conductor “chips or diodes” that light up with energized electrons. LED’s require drivers that convert 110v current to 12v AC and DC current. Today, most of these components are integrated into the LED fixture or the LED retro fit lamp.
12v LED’s have similar properties to their halogen counterparts. Basically, watts are watts and 12v products require 12v transformers. So, calculating voltage drop is the same formula only with fewer watts.