So right there plants are only 25% efficient at collecting energy from photons. This is why you see indoor plants grown under red LEDs. Modern commercially available solar panels are about 21% efficient so that is actually getting close to plant can do (I'm not going to include inefficiencies in power conversion right now). Solar panels in the high 40% efficiency range exist, but they are crazy expensive and only used on things like satellites.
So using current (very advanced) technology we could actually get about double the plant output per area land by using the most advanced solar panels we have to collect light energy to power LEDs.
>This can theoretically be more efficient than growing plants under sunlight
Which doesn't seem to be talking about all of the other externalities, just about sunlight vs man made light.