As a way to help conserve the environment, power conservation is one of the way to achieve that and it looks like our home electronics will be playing a part in helping us do that. Last year, the US Department of Energy challenged inventors to come up with a low-cost, but highly-efficient incandescent light bulb that would ultimately replace the 40 watt incandescent light bulbs that will be banned come 2014. Philips took the prize home with their LED lightbulb that not only boasted an extremely impressive lifespan of 20 years, but it would only burn 10 watts of electricity.

The good news is that come this Sunday, the environmentally conscious will be able to start replacing their light bulbs with Philips’. According to the rules of the competition, the light bulb will have to hit a price point of $22 within its first year of availability. The light bulb was originally priced at $60, although Philips has since discounted it down to $50 and are working with utility companies to offer rebates of $20-$30 to hit that $22 mark. In any case, these bulbs will go on sale this Sunday but if they’re still a bit too expensive for your tastes, compact fluorescent lamp bulbs will offer up the same energy efficiency at a much more affordable $5.

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