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The $10
Million Lightbulb |
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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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