Ok, I was not aware that there has been a lot of progress on reducing transport losses in the electricity grid over the last decades. Thanks for the heads up! But even taking this into account area efficiency of direct sunlight compared to artificial light still differs significantly (25% * 95% * 50% = 12%).

Plants actually _do_ use the green light of the spectrum, just not as much, thus leaves appear in green color. How high would you estimate the efficiency gain by using a better spectrum? My guess would be that this gain would be below 50%. So area efficiency of artificial light would still be below 20%. And the calculation has been made "best case". 25% photovoltaic efficiency are lab figures for the very best cells possible. Installed base is lower still, monocrystallin cells 20 - 22 %, polycrystallin 15 - 20 %.