As time passes, a light source degrades in term of light intensity. The wavelength or spectrum of the light source could be slightly changed for some light sources. Most of visible light sources are very stable. If you are curious about the spectrum change from your light source, you could use a CCD spectrophotometer to measure it.
Light intensity has several meanings (see Wiki). Commonly this is a radiant power per square meter, which can be measured. The distribution of photons on energy (wave length) is called an emission spectrum. The number of photons in the narrow range of wavelength is called the photon flux at this wavelength. Commonly the cut-off filters are used to irradiate your target. Using a set of cut-off filters and measure the light power you can have some ideas about the emission spectrum. The spectrum and the power of a given light source can change with time. It often happens when the light source is turned on and during certain time the lamp source is warming up. A light source may degrade with time as well. I would recommend you to use the light emitting diodes (LED) which can generate light in a very narrow range of wavelength. You can choose an LED with a required wavelength and power . LEDs are cheap and stable light source.
I think the above comments has already addressed your question, just in short you may try to measure the intensity and wavelength of your light source with a photodiode and a spectrophotometer, respectively. You may be interested in experimental part of the following paper.
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