Cree Launches $99 LED Street Light

Cree already passed one lighting milestone earlier this year, offering a warm white light-emitting diode (LED) bulb for less than $10. The LED company is now taking another step in low-cost, high-quality LEDs for another sector: street lighting. The XSPR LED residential street light will sell for as little as $99 while using more than 65 percent less energy, according to the company. The new street light ideally replaces high-pressure sodium fixtures of up to 100 watts, according to Cree, and can offer payback in less than one year.