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that is correct. the desired voltage is 12volts, and anything down to 9v works nicely. about the lipo : if you leave the leds on by accident some morning (and you will..) then your lipo will be drained and as I understand completely draining a lipo will damage it. so when using a lipo you might want to consider some lipo protecting circuitry (I have no idea how to obtain or build something like that, maybe it is built in into the lipo itself these days)