Quoted from erichill:No to go too far off topic here, but that's a bit of an oversimplification. The Cree bulbs are only $5-$8 (and continue to go down in price as time goes on) and use only a sixth the amount of power as a tungsten bulb with similar light output. I did the math a few months ago and based on my average electric rate (around $0.11/kWH, IIRC), I'd recoup the cost of the bulb within 5-6 years in heavy use locations. Also, since the LED bulbs are rated to last 20-30 years they're great to use in fixtures that are a pain in the butt to get to.
For me, it's all about the quality and color temperature of the light (which is why I continue to use incandescents in my pins and why I never touched CFs), and if I can get this, reduce my energy consumption, and save money in the long run, I'm all in.
Yeah, I hear ya. Where I live the LED bulbs worth installing are from about 12 dollars to 25 dollars (just checked - wow that gets pricey!). I'm waiting until they become more practically affordable. Like any technology, wait it out, reap benefits.
I have a stack of incandescents that's about 2 feet by 2 feet by 3 feet to tide me over