Image: Philips

To replace the inefficient incandescent light bulb, the U.S. government sponsored the L Prize, a technology competition to push manufacturers to develop an energy-efficient alternative. The winner, an LED designed by Philips, goes on sale Sunday to coincide with Earth Day.

The L Prize Bulb (aka EnduraLED 10W A19 Dimmable Bulb) is said to last 30,000 hours or about 20 years, producing 900 lumens while using only 10 watts of energy. That’s 83 percent more efficient than 60-watt incandescents.

READ MORE: Light Bulb Has 20-Year Life Span

On a nationwide scale, this could save households $3.9 billion if every 60-watt incandescent was replaced with the L Prize Bulb, according to Philips. But to be realistic, that won’t happen. Not only is there extreme confusion from consumers over what types of bulbs to buy, but this new light carries a hefty price tag: $60, though at introduction this will be discounted to $50.