Philips Targets Earth Day for L Prize Bulb Availability to Consumers

Using just 10 watts of power and saving over $165 dollars during its 30,000 hour lifetime, the new bulb is the world's brightest, most energy-efficient 60 watt LED equivalent

Philips today announced it will offer its most technologically advanced LED bulb to consumers for the first time on Earth Day. The company's response to the federal government's challenge to develop aggressive new technology that would support the nation's goal of energy independence and security was met by the development of the most energy efficient bulb in the world. The Philips L Prize LED bulb, winner of the U.S. Department of Energy's Bright Tomorrow Lighting Prize (L Prize) competition, will be available this week at both retail and online outlets.

"Philips is the first and only company to meet the stringent L Prize requirements for a bulb that produces over 900 lumens, a Color Rendering Index (CRI) of 90 and 2700 Kelvin color temperature, features that allow it to closely mimic an incandescent bulb," stated Ed Crawford, GM of Lamps, Lighting Electronics and Controls for Philips Lighting North America. "Because the new bulb is 83% more energy efficient than the standard 60-Watt incandescent, consumers can now experience new savings for their pocketbooks by putting this technologically advanced product to use in their homes."

Philips has partnered with over 280 utility companies across the country to ensure rebates are available on the bulb and expects more than 230 additional utilities to join the program in June when the product is expected to achieve Energy Star qualification. Utilities and efficiency programs such as Cape Light Compact, Efficiency Vermont, Platte River Power Authority (Colorado) and Long Island Power Authority will be offering rebates of $15 - $25 on the bulb, bring the retail price at point of sale down to as little as $25.

"By supporting proven LED technology such as the Philips L Prize bulb, we can give consumers a viable, long-lasting alternative to the incandescent or CFL," said Briana Kane, Senior Residential Program Manager at of Cape Light Compact in Massachusetts. "As we head into the peak summer usage months, the ability to reduce your electricity bill for the next few decades by simply screwing in an LED light bulb becomes an attractive and easy proposition."

The winning Philips product excelled through rigorous short-term and long-term performance testing carried out by independent laboratories and field assessments conducted with utilities and other partners. The product also performed well through a series of stress tests, in which the product was subjected to extreme conditions such as high and low temperatures, humidity, vibration, high and low voltage, and various electrical waveform distortions.

"We knew that it would be an important driver for the industry, spurring innovation and adoption for an alternative to a product that has remained largely unchanged for over a century," said Ed Crawford, GM of Lamps, Lighting Electronics and Controls for Philips Lighting North America. "With LED bulbs, we are looking at a wholesale change in buying lighting technology, going from a disposable good to a durable good. Consumers are no longer looking at a product that will last just six months to a year, they are looking at a product that is much more efficient and will be with them for decades."

If every 60-watt incandescent bulb in the U.S. was replaced with the 10-watt L Prize winner, the nation would save about 35 terawatt-hours of electricity, the equivalent electricity of 17.5 electric power stations, or $3.9 billion in one year. Moreover, the change will also avoid 20 million metric tons of carbon emissions, or the equivalent to removing nearly 4 million cars from the road.

To download L Prize images and video, please click here: http://forummedia.us/philipslprize

About Royal Philips Electronics

Royal Philips Electronics of the Netherlands PHG +1.00% (aex:PHI) is a diversified health and well-being company, focused on improving people's lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of "sense and simplicity." Headquartered in the Netherlands, Philips employs approximately 122,000 employees with sales and services in more than 100 countries worldwide. With sales of EUR 22.6 billion in 2011, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at www.philips.com/newscenter .

Source: Market Watch

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