The $50 light bulb

Apparently it wasn’t supposed to go over $22. 00.  Well, that’s comforting.

The Department of Energy awarded lighting giant Philips the $10 million L Prize despite the fact that the winning energy-efficient bulb failed to meet several contest criteria requirements, according to documents obtained by the Washington Free Beacon.

Philips raised eyebrows when it debuted the winning bulb with a $50 price tag. That is far beyond the $22 cost recommended by the department, which is now working with utility companies to cut back on the upfront cost through rebates.

Department documents, however, cast doubt on whether the expensive LED bulb was even worthy of the prize.

Story.