Question: Which plant needs the least amount of light?

Photosynthetic efficiency

The photosynthetic efficiency is the fraction of light energy converted into chemical energy during photosynthesis in plants and algae. Photosynthesis can be described by the simplified chemical reaction
6H2O + 6CO2 + energy → C6H12O6 + 6O2
where C6H12O6 is glucose (which is subsequently transformed into other sugars, cellulose, lignin, and so forth). The value of the photosynthetic efficiency is dependent on how light energy is defined – it depends on whether we count only the light that is absorbed, and on what kind of light is used (see Photosynthetically active radiation). It takes eight (or perhaps 10 or more[1]) photons to utilize one molecule of CO2. The Gibbs free energy for converting a mole of CO2 to glucose is 114 kcal, whereas eight moles of photons of wavelength 600 nm contains 381 kcal, giving a nominal efficiency of 30%.[2] However, photosynthesis can occur with light up to wavelength 720nm so long as there is also light at wavelengths below 680nm to keep Photosystem II operating (see Chlorophyll). Using longer wavelengths means less light energy is needed for the same number of photons and therefore for the same amount of photosynthesis. For actual sunlight, where only 45% of the light is in the photosynthetically active wavelength range, the theoretical maximum efficiency of solar energy conversion is approximately 11%. In actuality, however, plants do not absorb all incoming sunlight (due to reflection, respiration requirements of photosynthesis and the need for optimal solar radiation levels) and do not convert all harvested energy into biomass, which results in an overall photosynthetic efficiency of 3 to 6% of total solar radiation.[1] If photosynthesis is inefficient, excess light energy must be dissipated to avoid damaging the photosynthetic apparatus. Energy can be dissipated as heat (non-photochemical quenching), or emitted as chlorophyll fluorescence.
Typical efficiencies
Plants
Quoted values sunlight-to-biomass efficiency

The following is a breakdown of the energetics of the photosynthesis process from Photosynthesis by Hall and Rao:[6]
Starting with the solar spectrum falling on a leaf,

47% lost due to photons outside the 400–700nm active range (chlorophyll utilizes photons between 400 and 700nm, extracting the energy of one 700nm photon from each one)

30% of the in-band photons are lost due to incomplete absorption or photons hitting components other than chloroplasts

24% of the absorbed photon energy is lost due to degrading short wavelength photons to the 700nm energy level

68% of the utilized energy is lost in conversion into d-glucose

35–45% of the glucose is consumed by the leaf in the processes of dark and photo respiration
Stated another way:

100% sunlight → non-bioavailable photons waste is 47%, leaving

53% (in the 400–700nm range) → 30% of photons are lost due to incomplete absorption, leaving

37% (absorbed photon energy) → 24% is lost due to wavelength-mismatch degradation to 700nm energy, leaving

28.2% (sunlight energy collected by chlorophyll) → 32% efficient conversion of ATP and NADPH to d-glucose, leaving

9% (collected as sugar) → 35–40% of sugar is recycled/consumed by the leaf in dark and photo-respiration, leaving

5.4% net leaf efficiency.
Many plants lose much of the remaining energy on growing roots. Most crop plants store ~0.25% to 0.5% of the sunlight in the product (corn kernels, potato starch, etc.).
Photosynthesis increases linearly with light intensity at low intensity, but at higher intensity this is no longer the case (see Photosynthesis-irradiance curve). Above about 10,000 lux or ~100 watts/square meter the rate no longer increases. Thus, most plants can only utilize ~10% of full mid-day sunlight intensity.[6] This dramatically reduces average achieved photosynthetic efficiency in fields compared to peak laboratory results. However, real plants (as opposed to laboratory test samples) have lots of redundant, randomly oriented leaves. This helps to keep the average illumination of each leaf well below the mid-day peak enabling the plant to achieve a result closer to the expected laboratory test results using limited illumination.
Only if the light intensity is above a plant specific value, called the compensation point the plant assimilates more carbon and releases more oxygen by photosynthesis than it consumes by cellular respiration for its own current energy demand.

Photosynthesis measurement systems are not designed to directly measure the amount of light absorbed by the leaf. Nevertheless, the light response curves that the class produces do allow comparisons in photosynthetic efficiency between plants.
Algae and other monocellular organisms
From a 2010 study by the University of Maryland, photosynthesizing Cyanobacteria have been shown to be a significant species in the global carbon cycle, accounting for 20–30% of Earth's photosynthetic productivity and convert solar energy into biomass-stored chemical energy at the rate of ~450 TW.[7]
Worldwide figures
According to the electron yield of 0.05% to 0.3% mentioned in the cyanobacteria study above[7], this means that a gross upper-bound estimate for the total photosynthetic productivity of earth is between ~90–530 TW (see also Earth's energy budget), if all of earth's surface was photosynthetically active.
Efficiencies of various biofuel crops
Popular choices for plant biofuels include: oil palm, soybean, castor oil, sunflower oil, safflower oil, corn ethanol, and sugar cane ethanol.
An analysis of a proposed Hawaiian oil palm plantation claimed to yield 600 gallons of biodiesel per acre per year. That comes to 2835 watts per acre or 0.7 W/m2.[8] Typical insolation in Hawaii is around 5.5kWh/(m2day) or 230 W/m2.[9] For this particular oil palm plantation, if it delivered the claimed 600 gallons of biodiesel per acre per year, would be converting 0.3% of the incident solar energy to chemical fuel. Total photosynthetic efficiency would include more than just the biodiesel oil, so this 0.3% number is something of a lower bound.
Contrast this with a typical photovoltaic installation,[10] which would produce an average of roughly 22 W/m2 (roughly 10% of the average insolation), throughout the year. Furthermore, the photovoltaic panels would produce electricity, which is a high-quality form of energy, whereas converting the biodiesel into mechanical energy entails the loss of a large portion of the energy. On the other hand, a liquid fuel is much more convenient for a vehicle than electricity, which has to be stored in heavy, expensive batteries.
Most crop plants store ~0.25% to 0.5% of the sunlight in the product (corn kernels, potato starch, etc.), sugar cane is exceptional in several ways to yield peak storage efficiencies of ~8%.
Ethanol fuel in Brazil has a calculation that results in: "Per hectare per year, the biomass produced corresponds to 0.27 TJ. This is equivalent to 0.86 W/m2. Assuming an average insolation of 225 W/m2, the photosynthetic efficiency of sugar cane is 0.38%." Sucrose accounts for little more than 30% of the chemical energy stored in the mature plant; 35% is in the leaves and stem tips, which are left in the fields during harvest, and 35% are in the fibrous material (bagasse) left over from pressing.
C3 vs. C4 and CAM plants
C3 plants use the Calvin cycle to fix carbon. C4 plants use a modified Calvin cycle in which they separate Ribulose-1,5-bisphosphate carboxylase oxygenase (RuBisCO) from atmospheric oxygen, fixing carbon in their mesophyll cells and using oxaloacetate and malate to ferry the fixed carbon to RuBisCO and the rest of the Calvin cycle enzymes isolated in the bundle-sheath cells. The intermediate compounds both contain four carbon atoms, which gives C4.
In Crassulacean acid metabolism (CAM), time isolates functioning RuBisCo (and the other Calvin cycle enzymes) from high oxygen concentrations produced by photosynthesis, in that O2 is evolved during the day, and allowed to dissipate then, while at night atmospheric CO2 is taken up and stored as malic or other acids. During the day, CAM plants close stomata and use stored acids as carbon sources for sugar, etc. production.
The C3 pathway requires 18 ATP for the synthesis of one molecule of glucose while the C4 pathway requires 20 ATP. Despite this reduced ATP efficiency, C4 is an evolutionary advancement, adapted to areas of high levels of light, where the reduced ATP efficiency is more than offset by the use of increased light.  The ability to thrive despite restricted water availability maximizes the ability to use available light. The simpler C3 cycle which operates in most plants is adapted to wetter darker environments, such as many northern latitudes. . Corn, sugar cane, and sorghum are C4 plants. These plants are economically important in part because of their relatively high photosynthetic efficiencies compared to many other crops. Pineapple is a CAM plant.
See also
Energy conversion efficiency
FLEX (satellite)
Phototroph
Photosynthetically active radiation