It's light and carried for love (5)
I believe the answer is:
torch
I believe this is a double definition.
'it's light' is the first definition.
(torch is a kind of light)
'carried for love' is the second definition.
(referring to the phrase 'to carry a torch for')
'and' acts as a link.
(Other definitions for torch that I've seen before include "Small portable battery-powered electric lamp" , "Link" , "may get one glowing" , "Such a love song" , "Set alight deliberately" .)