TIME TO UNKNOT YOUR PANTIES, MARKETS WORKED AGAIN:

Remember when the fight against phasing out inefficient incandescent light bulbs was a big deal? Well it seems the sky didn't fall. Just recently, Canada joined the United States, the European Union, and Australia among several countries to phase out the production and import of inefficient incandescent light bulbs. While the jury is out on what exactly the best next standard is, at least they're all much, much more efficient.

While the basic incandescent light bulb is being phased out, LED light bulbs are starting to take off. And no wonder, they're 90% more efficient than the standard light bulb, and last 25 times longer. Talk about bang for your buck. But does this add up to anything really? Well, consider that Canadians alone spend 300 million (CAD) per year, equal to about 10 CAD per person per year. It's a small chunk per person, but add the longer lifetimes of the new light bulbs, and you can see why consumers are starting to take note, not to mention business owners who use them in bulk and will see a quicker payback.

Fun/important fact: halogen lamps are incandescent, just 28% more efficient than the basic model. So really, the controversy was less than about banning one particular light bulb, and more about setting an efficiency standard, letting the market provide options. And yet, there sure was a fracas surrounding the introduction of the standard, but here we are, buying more efficient light bulbs that save us money over their lifetime.

Follow @brothersjudd