The good news is that Philips Electronics has designed a 60-watt LED bulb that supposedly gives off the same warm glow as an incandescent bulb but that uses 83% less electricity.
The bad news is that the bulb will cost $22 (after rebates). The bulb will possibly cost only $8 by year 3 of production.
So while the bulb uses 83% less energy than existing 50-cent 60-watt incandescents, its cost is 4,400% more. Such a deal!
Even more appalling is that Phillips just won $10 million from taxpayers for designing this limousine light bulb.