Like solar, LEDs are in massive oversupply, as (among other reasons) the 3-D TV market meets with less market interest than forecast. A leading Taiwanese producer is running at 50% of capacity. But costs are also falling, and prices are getting very close to economic parity with compact fluorescent products. Once $100, a 6 watt (equal to a 60 watt fluorescent bulb) LED could be priced at $10 later this year. Requiring only 10% of the power of standard bulbs, the payback on a $10 bulb is within reason, and more progress to come. Once again (see solar/wind!), the combination of subsidies and oversupply is contributing to lower costs and closer to an attractive economic proposition for end markets.