Introducing the $ 60, 20-year light bulb
News from CBS News:

(AP) NEW YORK – How much would you pay for an amazing, state-of-the-art light bulb? Shoppers will be asking themselves that very question at Home Depot and other outlets starting Sunday — Earth Day — when the bulb that won a $ 10 million government contest goes on sale.

The bulb is the most energy-efficient yet, lasts about 20 years and is supposed to give off a pleasing, natural-looking light. But what separates it from the pack most is the price: $ 60.

That price reflects the cost of the components, especially the top-notch chips, or diodes, that give off the light, and is the price commercial customers will pay. But the manufacturer, Netherlands-based Philips, is discounting it right away to $ 50 for consumers, and working on deals with electric utilities to discount it even further, by as much as $ 20 to $ 30.

This means the bulb will cost anywhere from $ 20 to $ 60, depending on where it’s found. Online, consumers will be paying $ 50 for each bulb, because utilities don’t subsidize online sales.

Congress launched the L Prize contest in 2007, with the goal of creating a bulb to replace the standard, energy-wasting “incandescent” 60-watt bulb. The requirements were rigorous, and Philips was the only entrant. Its bulb was declared the winner last year, after a year and a half of testing. The contest stipulated that the winning bulb be sold for $ 22…………… continues on CBS News

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