New light bulb costs $60, but lasts 20 years - KPTV - FOX 12

New light bulb costs $60, but lasts 20 years

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NEW YORK (KPTV/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.

What makes the bulb 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.

The manufacturer, Netherlands-based Philips, is discounting the bulb by as much as $20 to $30 for consumers. A $10 rebate is available on Philips.com for those who purchase bulbs at The Home Depot.

Copyright 2012 KPTV (Meredith Corporation.) All rights reserved. The Associated Press contributed to this report.

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