Lemnis Lighting has introduced an LED bulb called the Pharox 500, which puts out 500 lumens of light and can be used as a more efficient bulb for traditional home lighting tasks.

The company says the light will consume 7 watts and can be used to replace a 60-watt bulb. Lemnis plans to have the bulb, which can last for 25 years, available on its Web site in the coming weeks for under $40.
 
Lemnis Lighting introduced the Pharox Candle to replace the bulbs in chandelier fixtures and more efficient spot light replacements for halogen bulbs.

Lemnis Lighting President Warner Philips said that the price of LED lights will go down steadily this year, driven by demand and improvements in the electronics.

He predicted that the prices for bulbs that could replace incandescent or compact fluorescents will go under $30 by the end of this year and down to $10 in five years.

Lemnis Lighting bulbs don't use mercury as compact fluorescents do and are recyclable, according to the company.