Goodbye fluorescent bulb? Philips says yes.
I looked up the amount of electricity used for lighing in the US - it's over 500 TWh. That's over 12% of the total electricity consumption in the United States. If the LED guys are right about LEDs taking over within 10 years it means that the electricity used for lighting will fall dramatically. Estimates vary but let's say the US could save 250 TWh per year by transitioning to LEDs.
You'd need about 200 GW of photoelecrics to produce this much electricity. Pretty crazy eh.