Haitz's Law, and what it means

What it means is this: you will be using LED based lighting within the next few years.

Haitz's law on Wikipedia. Briefly, LEDs' cost per lumen falls by a factor of 10 every 10 years, and the output in a particular format rises by a factor of 20.

In other words, that LED bulb that now costs $60 will be:

• $12 in a few short years,
• Will have a lifespan measured in tens of thousands of hours (rather than 1000 hours for the typical incandescent)
• Will be 2-3 times more efficient in terms of energy usage than a comparable incandescent.

I don't think that the time to buy is right now (the economics are sound, but they are going to get significantly better), but in the next few years, LED lighting is going to be the obvious choice.