The US Department of Energy (DOE) have announced that they will be paying $10 million of funding to support research, development and manufacturing of LED lighting and OLED lighting.

Companies, Academic institutions and national laboratories that are attempting to advance LED technology in terms of efficacy, performance and cost are all eligible for the funding. It is also available to organisations that seek to improve commercially viable solid state materials and enhance product quality and consistency through innovation.

The DOE said it is hoping to see a 75% increase in LED performance, taking it from its average of 150 lumens per watt to 250 lumens per watt. They believe that the development of solid state technology could lead to America saving $26 billion a year in energy costs.

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