Thin film metal-oxide-semiconductor light emitting devices (LEDs) based on nanocrystalline silicon multilayer structure were grown by plasma-enhanced chemical vapor deposition. Room temperature electroluminescence was studied under direct current and time-resolved pulsed-current injection schemes. Multilayer LEDs operating at voltages below 5 V and electroluminescence turn-on voltage of 1.4–1.7 V are demonstrated. The turn-on voltage is less than 3.2 V which corresponds to the barrier height at the silicon oxide interface for electrons. Electrical injection in the multilayer LED is controlled by direct tunneling of electrons and holes among silicon nanocrystals. This injection regime is different than the Fowler–Nordheim tunneling that controls the electron injection in single thick layer LED operating at high voltages. A comparison of the power efficiency for the multilayer based LED and a similar single thick layer LED shows larger power efficiency for the former than for the second. Our results open new directions in the development of highly efficient room temperature silicon based LED.