“Prices for LED light bulbs are high but falling quickly. A ‘dumb’ LED that puts out as much light as a $1.25 (74p) incandescent light bulb now sells for $9 (£5.35) but uses one sixth the energy and lasts much longer.”

“That’s down from $40 (£23.76) each a couple of years ago. A connected LED light bulb from Phillips’s Hue line retails in the U.S. for $59 (£35). But these will get cheaper too. Philips says a third of it’s lighting revenue now comes from LED light bulbs, and about 1.7% from the newer LED light bulbs that can connect to the internet.”

David Talbot, MIT Technology Reviews – Chief Correspondent and Editor

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