The bulb that won the 2011 US Department of Energy's "Bright Tomorrow Lighting Prize," was available from retailers for $50, and the company said it was planning discounts to bring the cost down to as little as $25-$30.
The 10-watt light bulb was deemed an efficient alternative to the standard 60-watt incandescent bulb, and when used 3 hours a day, boasted an impressive 27.4 years maximum life span, the company said.
For consumers attentive to cost, Philips said the price tag was easily offset by energy savings of $165 over its lifetime.
"Because the new bulb is 83% more energy efficient than the standard 60-watt incandescent, consumers can now experience new savings for their pocketbooks," Philips' North America executive Ed Crawford said in announcing rebates.
International Earth Day, now in its 42nd year, was celebrated by environmentalists Sunday seeking to bring attention to climate change and pollution, and highlight ways to save energy.
President Barack Obama issued a US proclamation for the day to "reflect on the challenges that remain," and confront the "most urgent environmental issues and rallied around a single message: the success of future generations depends upon how we act today." (www.rappler.com)