I get 23% per year in a 10 year analysis.
Assumptions:
1) KWH / Year: 1,142, Department Of Energy
2) Cost / KWH: $0.1153, Average U.S., ElectricChoice.com
3) Cost / bulb: $1 v. $45
4) Watts: 100 v. 12
Standby for a breakeven period.
Payback Period occurs at about the end of Year 4, non-discounted cash flows.