A revolutionary new lightbulb which has been designed by Phillips and
recently won the U.S. Department of Energy’s L Prize, will be finally
available to purchase in stores this weekend. The Phillips LED lightbulb
has been deigned to last and provide light for 20 years, burning only
10 watts of power. The new LED lightbulb was originally was priced at
$60, and has been created to replace incandescent bulbs of 40 watts or
more when they are banned in 2014.
But to win the U.S. Department of Energy’s L Prize, the price of the
invention would need to drop to $22 within its first year of being
available, before the $10 million prize could be redeemed by Phillips.
At the moment the price for the Phillips LED lightbulb is $50, but
Phillips is currently in talks with utility companies to offer rebates
of anywhere between $20 and $30, that will be applied by the retailers
of the new next generation lightbulb.
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