It Took $10M in Taxpayer-Funded Subsidies To Create $50 "Green" Light Bulb to Replace a $1 Bulb
From the Washington Post:
"The U.S. government last year announced a that it would spend $10 million award of taxpayer money to fund dubbed the “L Prize,” for any manufacturer that could create a “green” but affordable light bulb. Energy Secretary Steven Chu said the prize would spur industry to offer the costly bulbs, known as LEDs, at prices “affordable for American families.” There was also a “Buy America” component. Portions of the bulb would have to be made in the United States.
Now the winning bulb is on the market. The price tag is $50 (currently $60 on eBay).
(Source: Carpe Diem)
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