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December 2009 –  According to Time Magazine, Philips' new LED household light bulb replacement ranks third among the Best Innovations of 2009. The bulb was recently unveiled as the first entrant to the U.S. Department of Energy’s (DOE) Bright Tomorrow Lighting Prize (L Prize), a race to develop an energy-efficient alternative to the common 60 watt incandescent bulb.
Launched last year, the race intends to spur innovation in an area that has remained largely unchanged for the past century. DOE has developed three categories of entrants: a replacement for the 60W incandescent; the PAR 38 halogen; and a “21st Century Lamp”. The winners of this competition will receive $10 million in addition to government procurement opportunities and utility incentives. The project's private partners may offer additional prizes.
The Philips LED bulb emits about as much light as an incandescent but uses only 7 watts and lasts 25 times longer than its counterpart. Time Magazine estimates that replacing 60 watt lights on the market with LED bulbs would save enough electricity per year to light 17.4 million households. As Time put it, “With a flick of a switch, Philips Electronics may have just dramatically lowered America’s electric bill."
Learn more about the Best Inventions of 2009 and DOE's L Prize.
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