
Cost of CFL: $3 (going on the high side)
Cost of energy over the life of the bulb = $0.10 (cost of a kilowatt hour) x 13 (watts) / 1000 (watts / kilowatt) x 8000 (number of hours) = $10.40
--------------------------------
Total Cost = $13.40
Now for the standard incandescent bulb:
Cost of 8 standard bulbs: $1 (going on the low side)
Cost of energy over the life of the bulb = $0.10 (cost of a kilowatt hour) x 60 (watts) / 1000 (watts / kilowatt) x 8000 (number of hours) = $48.00
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Total Cost = $49.00
Total savings over the life of 1 CFL bulb = $35.60
Now figure that at 8 hours per day, that CFL will last you 3 years. So you save almost $12 per bulb per year. Plus you don't have to get on a ladder every 6 months to change your light bulbs. Now think about how many bulbs you have in your house.
And there's another benefit. Incandescent bulbs give off a lot of heat, which is why they are such a waste of energy. In the summer, your A/C actually has to work harder to cool your house down from the heat of the light bulbs. With the CFLs, less heat = less A/C usage. Hard to quantify, but definitely a savings.
I will admit a few drawbacks with CFLs. They can take 15-30 seconds to reach full brightness. Longer with the floods for some reason. The color isn't always considered as "true" and the dimming bulbs don't reportedly work very well (some are reported to flicker when you dim it too low) and they are a lot more expensive. But in the end these bulbs have come a long way. And they pay for themselves many times over with energy savings.


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