LED light bulbs are very good for the environment, and can be very good for the finances as well. The biggest issue with LED bulbs has been the up front cost associated with them. Buying a 60-watt equivalent LED light bulb currently costs around $45 for a Philips Ambient LED bulb, compared to $8 for an 8-pack of GE 60-watt CFL replacements. Mathematically speaking, LED bulbs are typically cheaper to operate per KWh than CFL or even incandescent bulbs. The reason LED bulbs are typically cheaper to operate is because they have a much longer lifespan than CFL or incandescent bulbs, so the need to replace LED bulbs is less, thus off-setting the higher up front cost.
Even when considering the typically cheaper long-term costs of LED bulbs, the up front costs of these bulbs typically scare away potential buyers. In order to increase the adoption of LED bulbs it is crucial to bring down the costs of the bulbs. This is what Lighting Science Group and Dixon Technologies India is hoping to accomplish when they introduce a 60-watt equivalent LED bulb sometime in early 2012. The bulb to be introduced is reported to costs around $15 when it hits shelves. [via Cnet.com]