Filipino homes trade bulbs for fluorescent globes (11:48 a.m.)
MANILA — The Asian Development Bank has approved a $31.1 million loan to help households in the Philippines cut power bills by trading incandescent bulbs for more energy-efficient fluorescent globes.
The government said it wants to phase out the iconic bulbs by 2010 as the most effective way to save electricity and reduce greenhouse gases. Fluorescent lights need just 20 percent of the electricity used by incandescent bulbs and last six to 10 times longer.
The Manila-based lender said Monday its energy-efficiency project will give away 13 million fluorescent globes to homeowners and businesses in exchange for their incandescent bulbs.
Each new light is expected to save customers about $8.50 each year for the next seven to 10 years - or about $100 million in fuel costs annually, it said.
“The impact on the power system will be the same as building a new 50 MW power station, which costs at least $50 million, another $2 million $3 million each year to operate, and 34 years for construction,” said Sohail Hasnie, ADB senior energy specialist. (AP)
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