Philips has just won a $10 million prize money from Department of Energy (DOE) for inventing equivalent for the 60 watts incandescent lamp. The photo shown above is the 60W bulb replacement in the form of pure LED light that produces equivalent light but consumes just fewer than 10 Watts of electrical power which is simply remarkable. According to DOE, Philips latest creation meets performance, quality, lifetime, cost as well as availability and the bigger part about the picture is that if all Americans replace their 60 Watts incandescent with this new Philips LED light bulb, then the annual energy savings of about $3.9 billion and it is also worth to mention here that this will avoid about 20 million metric tons of carbon emissions each year. The new Philips LED bulbs will be available in Q1 2012.