The $10 Million Lightbulb
With the flick of a switch, Philips Electronics may have just
dramatically lowered America's electric bill. In September
the Dutch electronics giant became the first to enter the
U.S. Department of Energy's L Prize competition, which seeks
an LED alternative to the common 60-watt bulb. Sixty-watt
lights account for 50% of the domestic incandescent market;
if they were replaced by LED bulbs, the U.S. could save enough
electricity per year to light 17.4 million households. If
Philips wins the L Prize, it will claim a cash award and federal
purchasing agreements worth about $10 million.
Philips' LED bulb emits the same amount of light as its incandescent
equivalent but uses less than 10 watts and lasts for 25,000
hours — or 25 times as long
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