Boy do I feel great for grabbing a handful of 60-watt replacement LEDs for $40 a pop!  Lighting Science Group and India-based Dixon Technologies today announced plans to launch the world’s first sub-$15 60-watt equivalent LED bulb.  The bulb will be available in India by the end of this year and around the world sometime in 2012.

The omnidirectional bulb will be 35% more efficient than a CFL yet it won’t have mercury.  Payback is expected to be about eight months assuming a price below $15, according to LSG.

LSG’s cheaper LED bulb will consume about 8.5 watts, according to Michael Kanellos of Greentech Media, and will boast a brightness that is the same as an incandescent, according to Jonathan Skillings of CNET News.  The bulb will have an expected life of 8 years.

On a related note, LSG is planning a smart bulb that works with the [email protected] program Google discussed in May 2011.  The LED replacement should be the shelves by the end of this year.

Photo credit: Lighting Science Group.