UNDATED (CNN) -- How would you like a light bulb that will glow for 20 years? Come Sunday, which happens to be Earth Day, you can buy one, but it won't come cheap. There's a revolutionary new light bulb that is supposed to last 30 times longer than an incandescent.
Utility companies and the major retailers have been pushing compact fluorescent light bulbs as a more energy conscious way to light your home for several years now.
But a new era of lighting is upon us. Although once again, you'll have to decide if it's worth paying a high price up front to save money over the long term and in this case: the very long term.
The new LED light bulb from Philips will retail for $50 but it has a lifetime of 30,000 hours, or 20 years.
Philips CEO says it's time to change the way we think about light bulbs. Philips CEO Ed Crawford says, "The consumer is used to thinking of light bulbs as something inexpensive that they throw away. It's a disposable product. And really what we need to get consumers to recognize, it's not how much you pay for a light bulb, it's how much it costs to run a light bulb."
If you do the math, this new bulb will cost about $1.20 a year to run. That's more than 20 percent less than compact fluorescents, you know, the squiggly bulbs.
And way less than the old incandescent bulbs. Philips is working with utility companies to lower the upfront costs.
Depending on where you live, you eventually could be paying $20 or $30 for a bulb, after rebates. You can pick one up at stores this Sunday as the launch coincides with Earth Day.