Enlux is the first company to release LED-based lightbulb replacements for your household halogen and incandescents. They claim their white bulb alternatives are twice as energy efficient (colored bulbs more than ten times as efficient) with estimated lifetimes of around 50,000 hours of operation. That's more than five years continuously lit, and even then they won't just burn out like incandescents, although their output is likely to taper off after many years of usage. And of course, LEDs operate at a much lower temperature than current household lighting methods, reducing the fire hazard associated with halogen and even incandescent bulbs—how many times have you seen that warning tag stating that there is a risk of fire if you use bulbs over 25 watts? How many times did you put that 100-watter in there anyway cause it's the only good bulb you could find?
At any rate, the PopSci award seems to be well-deserved, and unless a better technology steps up to the plate, we're going to see LEDs in widespread use for everyday lighting needs soon. Right now, they're still pretty expensive—you're going to need to drop $80 for one—but as manufacturing costs come down and more competition enters the market, the retail price will become more bearable. (Would you say the price burden would be lighter? Oh ho ho ho. -ed.)