The government held a contest to build an affordable green light bulb. I know some people who make pretty good money, but I don't know anyone who thinks $50 for a light bulb is affordable.
The U.S. government last year announced a $10 million award, 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 is $50.
Retailers said the bulb, made by Philips, is likely to be too pricey to have broad appeal. Similar LED bulbs are less than half the cost.
Government-subsidized green light bulb carries costly price tag - The Washington Post
Mass production will bring the cost down like it has for everything else. When VCR's first came out they cost thousands of dollars, eventually the price came down to where everyone could afford them. The same for DVD players, LCD TVs, etc.
You can get similar 60 watt equivalent LED bulbs for under $30 today and India has announced that their bulb will be available worldwide later this year at $15.
From your link:
For example, at Home Depot, one can find LED bulbs to replace the 60-watt incandescent for much less than $50. Lighting Science Group, under the EcoSmart label, offers another for $23.97. It is assembled in Mexico. And another Philips LED bulb on sale costs $24.97. It was made in China.
http://news.cnet.com/8301-11128_3-20098666-54/60-watt-led-bulb-to-break-$15-mark-lighting-science-says/
This is the omnidirectional LED bulb that Lighting Science says will be priced below $15.
(Credit: PRNewsFoto/Lighting Science Group)
Lighting Science Group and Dixon Technologies India today touted an LED light bulb equivalent to a 60-watt incandescent that they say will hit store shelves with a price below $15.
The omnidirectional LED bulb, in the traditional A19 shape of household incandescent light bulbs, will become available in India by the end of the year and worldwide, including in the U.S., early in 2012, the companies said. It's the first in an expected series of products, including streetlights and industrial fixtures, that Lighting Science and Dixon plan to jointly manufacture and distribute.