Los Angeles officials expect to save millions of dollars on the city's light bill now that more than 140,000 street lights have been retrofitted with energy efficient bulbs.
In a statement Tuesday, Mayor Antonio Villaraigosa says the project has cut the city's energy use on street lighting by nearly two-thirds.
The project cost $57 million and was funded by a $40 million loan from the Los Angeles Department of Water and Power. The loan is to be paid entirely through savings in energy and maintenance costs over the next seven years. After that, the city is expected to save $10 million a year.
The project was supported by the Clinton Climate Initiative, among others. Former president Bill Clinton says such projects set new global standards for urban development.