Most LED light bulbs on the market sell for around $20 or over, a bit more than many people are willing to pay, even for a bulb that last considerably longer than others. Cree, a LED company, is seeking to reduce the cost of LED bulbs with a new line that will be sold at Home Depot, with one bulb that will retail for less than $10.
Most of Cree’s sales come from selling LED chips and components to bulb and lighting makers, and so far it has been a success and earnings have been growing steadily.
The new LED bulbs that will be sold include a 40-watt warm white replacement ($9.97), a 60-watt warm white replacement ($12.97), and a 60-watt day light ($13.97). The bulbs save 84% more energy and last 25 times longer than their incandescent counterparts, and even come with a 10-year warranty.
It has been a challenge to get people to start buying LED bulbs in decent numbers, especially when you can get a fluorescent or incandescent bulb for less than a dollar. As prices begin to drop and brands like Cree and others develop more affordable LED solutions, it’s likely that more people, especially business and building owners, will realize that LED bulbs make much more sense economically.
Do you have any LED bulbs in your home or office? What’s the most you would be willing to pay for one?