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Rebates to cut cost of $60 LED bulb

Federal contest results in super-efficient $60 light bulb, but rebates will bring price down By The Associated Press

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

For commercial customers, the L Prize bulb will cost $60. The price tag reflects the cost of the components, especially the light-emitting diodes, or LEDs. But the manufacturer, Netherlands-based Philips, is discounting the bulb by as much as $20 to $30 for consumers.

What makes it special is that it shines as bright as a 60-watt bulb, yet uses only 10 watts of power. If it's used four hours a day, the bulb saves about $8 per year in electricity costs and is expected to last 20 years.

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