No, IPS uses LCD meaning there is a white light source illuminating the back of the panel and the advatage of IPS panels is that you can use the brightest wallpapers and its affect to battery life stays the same. To save battery life however, you can decrease the brightness as the hardware will feed less power to the display panel. But in OLED panels, using a Dark wallpaper can save your battery life as the individual black pixels are turned off to produce the perfect black.
