Philippines will give away efficient bulbs

MANILA, Philippines, Feb. 6 (UPI) -- The Philippine government is planning to give away millions of energy-saving lightbulbs to try to save money on electricity.

An estimated $100 million will be saved each year if residents and businesses replace their traditional lightbulbs with new compact fluorescent bulbs that the government is handing out, Xinhua reports.

The government was given a 25-year, $31.1 million loan by the Asian Development Bank for the project.

The "CFL distribution program is like building 'virtual' power stations," said Sohail Hasnie, senior energy specialist in ADB's Southeast Asia Department.

Residents can turn in their incandescent bulbs and receive a compact fluorescent lamp. Individual savings are estimated at $8.50 a year for the next seven to 10 years.

The loan also includes funds for the government to retrofit all of its office buildings and public lighting with efficient lighting options. It also provides state-owned Philippine National Oil Co. with $7.5 million to establish an energy service company to extend financial and technical support to companies that want to reduce energy consumption.

Source: United Press International (UPI).
Link: http://www.upi.com/Energy_Resources/2009/02/06/Philippines_will_give_away_efficient_bulbs/UPI-41721233945409/.