Rebates to cut cost of $60 LED bulb

By PETER SVENSSON

NEW YORK

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.