California's utilities are spending $548 million over seven years to subsidize consumer purchases of compact fluorescent lamps. But the benefits are turning out to be less than expected. One reason is that bulbs have gotten so cheap that Californians buy more than they need and sock them away for future use. Another reason is that the bulbs are burning out faster than expected. California's experience is notable because energy experts have placed high hopes on compact fluorescent lamps. Often spiral-shaped, they screw into existing light sockets and offer energy savings of about 75% over traditional incandescent light bulbs. Many nations...