I have an Arduino that I want to drive using a 12 V source. Of course, this can be achieved using a voltage regulator or similar solution. Notably, there is a loss in the conversion (at best, this is roughly 5 % with the best switching regulators), which is acceptable. That is all fine.
However, I also know that I need to drive a few LEDs. Let us for now ignore the fact that the LEDs work with 3 - 3.6 V and that the source, being a lead-acid battery actually differs in voltage depending on charge. Assume that I have a LED with exactly 3.5 V drop and place two in series with the Arduino, producing a voltage distribution as 3.5 V, 3.5 V and 5 V.
In the below circuit diagram, the Arduino is modelled as a resistance (commonly called an R-duino), but I suspect it is not very accurate.
Exactly, what will happen? My guess is that since LEDs are passive and the Arduino consists of active components, the current draw will be decided by the Arduino, causing the LEDs to shine more brightly when the Arduino draws more current and shine less when the Arduino is in sleep/idle. If we disregard the losses in cables and such, could this solution be considered having 100 % efficiency? If not, then where are the losses (note that light emission is desired and not a considered loss)?