Philips' new LED bulb costs just $5

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The new Philips 8.5-W LED bulb is equivalent to a 60-W incandescent bulb

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If you've previously been put off LED bulbs by the price, now may be the time to reconsider. Philips, in partnership with The Home Depot, has announced that it will sell an A19 60-W LED equivalent bulb for just US$4.97. The firm says it's the most affordable LED bulb on the market.

Philips says that its new 60-W LED bulb will cost $62 less over its lifetime to run than a traditional incandescent bulb. If used in different light fittings throughout the home, the annual saving could therefore be significant.

The bulb uses just 8.5 W of power and is available in a warm white color temperature of 2,700 K outputting 800 lumens of light. A daylight version of the bulb with a color temperature of 5,000 K will also be available, as will 100-W A19 LED equivalent.

The bulb will be available at The Home Depot stores from the beginning of May in a two-for-one pack for the first 90 days, but is available now online.

Source: Philips

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