We’ve all heard about how the right light bulb can slash our power bills and energy use. It looks like the right light bulb is finally here. This bulb created by Phillips won the L Prize, a contest launched by the U.S. Congress in 2007 to replace the standard “incandescent” 60-watt bulb. The light bulb is definitely energy-efficient, using only 10 watts and has a lifespan of 30,000 hours or 20 years when used for four hours a day. It also doesn’t contain any mercury vapors unlike CFLs, and it emits a warmer, natural-looking light. The catch? Oh, the $60 price tag. Fortunately, Phillips is looking for ways to bring the price down. Still, I’m sure there are people out there who’d willingly fork over $60 to give the bulb a try, if it means never having to change light bulbs for a long time and being able to save money.