Philips Introduces 20-Year LED Lightbulb That Won Top DOE ‘L-Prize’
Dutch electronics giant Philips introduced their award-winning 20-year LED lightbulb to U.S. markets on Sunday and is working with suppliers to cut the 10-watt bulb’s current $50 price tag in half over the next year, the Associated Press reports.
The bulb’s public debut comes after years of development and winning last year’s “Bright Tomorrow Lighting Prize,” a competition launched by the U.S. Department of Energy to develop alternative sources of lighting. One of the stipulations of the competition was that the bulb be sold for $22 or less in its first year on the market.
But even at that price, LED lights faces serious competition from $1 incandescent lightbulbs and CFLs (compact-fluorescent bulbs), which normally retail for around $5 and can last for up to 10,000 hours, according to TreeHugger.
Philips says the cost of the LED lamp is easily offset by savings: if consumers use the bulb for four hours daily, they can save $8 per year on electricity, or about $160 over the bulb’s lifespan, the Associated Press reports. And the LED bulbs are less toxic to the environment because they don’t contain mercury vapors.