With conventional LCDs, the backlight will consume much more energy than any number of pixels. If your device has a fixed brightness, you can choose any color you want, the difference in energy consumption will be minimal.
On the other hand, if you can adjust the brightness, then you need a color scheme that provides the best contrast / visibility at the lowest possible screen brightness.
If it's an embedded device and you have full control over features such as screen brightness, it might be worth a little time. But if you are writing an application to work on your existing OS infrastructure, something like the overall brightness of the display will probably not be something that you will be allowed to control.
Justjeff
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