India orders 770 million LED light bulbs, prices drop 83 per cent

Subsidised bulbs sold for US$1.28, cuts peak load by 2,346 MW

Shri Piyush Goyal, India's minister of State (IC) for Power, Coal and New & Renewable Energy yesterday celebrated the fact that in just 20 months the price of LED lightbulbs has fallen from 310 rupees (US$4.68) to 54.9 rupees ($0.84), an 83 per cent plunge that is partly India's fault."