Compact fluorescent lamps (CFLs) use about a fifth of the energy of a normal (incandescent) bulb to produce the same amount of light, so switching to CFLs means more money in your pocket every month (lower energy bills). Even though they are more expensive to purchase, the upfront cost of a CFL is recovered within six to twelve months (depending on the price of your electricity). Incandescent bulbs only last for about eight months, while CFLs can last for up to 4 years or longer, which is an extra saving (fewer bulb replacements).
A lot of people say they do not like CFLs because the light is not nice, they flicker, and take time to warm–up. With the new CFLs all of these problems have been solved. They have quick start–up times, no flicker and good light quality. Make sure you choose a light marked "warm white" if you prefer the yellower colour of incandescents. CFL quality can vary quite a bit so buy a good quality bulb like the Phillips Genie or Osram Dulux SuperStar.
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"Some lights are more equal than others" on The Art of Engineering blog
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