The L Prize is a new U.S. government-sponsored lighting contest. The L Prize is offering $10 million to whomever can come up with the most energy-efficient light bulb.
The pictures in the gallery are from Philips' entry. The rules of the prize state that the light bulb "must deliver at least 900 Lumens output, with a consumption of less than 10 watts, and must have a lifespan of at least 25,000 hours." Hopefully the L Prize will lead to some awesome energy innovations. Our current light bulbs are so 1879.
Eco Lighting Contests
The L Prize Offers $10 Million for the Most Energy-Efficient Light Bulb
Trend Themes
1. Energy Efficient Lighting - The L Prize provides an opportunity for disruption in the lighting industry by offering a significant prize for the most energy-efficient and long-lasting light bulb.
2. Government-sponsored Contests - The success of the L Prize contest may lead to an increase in government-sponsored contests, particularly in the area of sustainable technology development.
3. Sustainable Innovation - The L Prize and similar contests can encourage sustainable innovation by providing incentives for the development of more environmentally friendly products.
Industry Implications
1. Lighting - The lighting industry has the opportunity to disrupt the market through the development of more energy-efficient and long-lasting light bulbs in response to the L Prize contest.
2. Sustainability - The L Prize highlights the importance of sustainability, presenting opportunities in industries such as renewable energy, green technology, and eco-friendly manufacturing.
3. Incentivized Innovation - Industries might be disrupted by the application of incentivized innovation models, such as the L Prize, to encourage product development and improve competitiveness.