1. A power supply for powering a light emitting diode (LED), wherein said LED has a forward voltage when operating, wherein said forward voltage changes during operation, said power supply comprising:a boost circuit configured for increasing power from a first voltage to a second voltage;
a capacitor coupled to said boost circuit to receive said power at said second voltage, said capacitor having a capacitor voltage when charged;
a buck circuit coupled to said capacitor and said LED and configured to draw current from said capacitor and deliver a fixed and regulated current to said LED; and
a voltage regulation circuit for adjusting said power received by said capacitor to maintain said capacitor voltage just above said forward voltage as said forward voltage changes, wherein said voltage regulation circuit is configured to monitor said forward voltage directly from said LED;
a comparator for receiving as input a voltage established on a terminal of said LED and a reference voltage source and generating a control signal;
wherein said voltage regulation circuit is configured to monitor said forward voltage and control said capacitor voltage such that said capacitor voltage just exceeds said forward voltage based on said control signal, wherein said voltage regulation circuit is configured to control said capacitor voltage by decreasing said capacitor voltage when said control signal is below a first threshold, and increasing said capacitor voltage when said control signal is above a second threshold, wherein said first and second threshold are established such that said capacitor voltage is maintained just above said forward voltage.