The Home Depot (NYSE:HD) is now selling a 40-watt (W) replacement LED lightbulb online for $19.97--a price that is less than half of what consumers were expected to pay for such bulbs just a few months ago.
In April, GE (NYSE: GE) unveiled its 40W replacement bulb, stating that retailers were likely to price it between $40-$50. Toshiba (6502) also unveiled a 40W replacement this year, though it did not give a price range.
By comparison, just
two years ago, a 60W equivalent cost $90 and a 100W dimmable
bulb went for $360.
Home Depot is selling the proprietary brand of LEDs under the EcoSmart name. The 429-lumen lightbulb has a 50,000 hour expected lifetime.
The bulbs will be in all U.S. The Home Depot stores by the end of September.
In addition, Home Depot will offer LED bulbs that
support different types of fixtures including: accent lighting,
track lighting, room lighting, outdoor spotlights and all are fully
Craig Menear, executive vice president for Home Depot Merchandising, said "Our partnerships with leading LED manufacturers including: Philips (NYSE: PHG), Lighting Science Group and Cree (Nasdaq: CREE) have enabled us to be the first in the market to offer affordable options for a wide array of fixture types for a consumer's home."
By 2012, federal legislation requires that select forms of incandescent bulbs no longer be manufactured in the U.S. and by 2014 most incandescent bulbs will be discontinued.
LEDs use up to 85% less energy than incandescent bulbs and up to 50% less energy than CFL bulbs. In addition to being extremely energy-efficient, their life is exceptionally long, cutting down both operating costs and inconvenience of maintenance.