Incandescent and fluorescent light are most common in house lamps and general lighting, but they are not recommended to light artwork. These bulbs tend to have very yellow tints and are inadequate in showing off the full spectrum of color in a painting. Fluorescent bulbs are especially harmful because it has an excess of UV light. According to Terrell-lighting.com, UV light quickly fades color, so it is important to keep your paintings from sunlight (direct as well as indirect) and generic light bulbs.
Museums do not use halogen light bulbs, but for personal use, halogens are the best type to use if you cannot afford the more expensive light bulbs. They would not be good for long-term use, but are good enough for short-term showings, like at an art exhibit. The best types of light bulbs are MR16 and LED. These are used by professionals, are highly efficient, have a long life, but can be quite expensive.
Play around with the type of lighting fixtures and their placement with the painting. For example, do you want three small track lights or one long lamp beneath the painting? Experiment with different angles and lighting fixtures to make your painting look its best.
Add mantle lights if your painting has glass that glares badly. A mantle light is several inches long and goes underneath the painting. Non-glare glass can work, but Robertterrell.com warns that non-glare glass can make the painting look fuzzy.
If two smaller paintings are hung together, try to place a lamp on a table beneath them to illuminate them. This may or may not work but it is fun to try out.
Purchase track lighting if you are displaying multiple paintings; this is ideal for an art exhibit. You can easily hide the cords behind the artwork, paint the cords to make them blend with the wall, or place plants and other furniture in front of them.