New light bulbs feature light-emitting diodes (LEDs) may succeed where compact florescent bulbs failed, finally luring Americans away from the traditional incandescent light bulb.
In a bid to trim electricity use, regulators have been pushing consumers toward alternatives to the incandescent bulb. However, many Americans have balked at compact fluorescents, which are seen by many as producing an oddly-tinted light, taking longer to fully illuminate, failing faster than advertised and including potentially hazardous mercury, the New York Times notes.
LED bulbs, by contrast, offer warmer light and are expected to last for decades. But until recently they were priced as high as $30 a bulb. That has begun to change, however, and stores like Walmart (WMT) now carry LED bulbs priced as low as $10.
Though LED bulbs comprise only about 1% of the market, compared to 75% for traditional incandescents, a number of producers have embraced the technology, including Cree (CREE), Rubicon Technology (RBCN), General Electric (GE) and Veeco Instruments (VECO).
Sales of the new bulbs are expected to climb as prices continue to fall. Utilities, looking to cut energy consumption, are paying manufacturers subsidies to cut prices.