The Marketplace Reader

Maybe $10 million will help you lighten up

Melissa Kaplan Sep 29, 2008

When it comes to creating new forms of lighting, the Department of Energy is passing the buck. For those savvy with light bulbs, the L Prize (or “lighting prize”) offers $10 million to a company that can create a viable solid-state LED replacement for the 60-watt bulb. The competition also requires the bulb to produce light equivalent to the standard wattage, but use less than 10 watts and last longer than 25,000 hours, which is the equivalent of over 17 years. But once that’s achieved we’ll all be saving money.

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