American taxpayers subsidizing $50 light bulbs?

This is a real irritation for me.  LED bulbs are being subsidized by utility companies as mandated by law. Where is the incentive to bring prices down if they are subsidized?

Glenn said that the manufacturer is trying to position this as the “cadillac” of light bulbs, hence the premium price.

“Could you give me a box of the cheap ones, please? It’s a light bulb, for the love of Pete. It’s a $50 light bulb,” Glenn said.

“The good news is you’re helping pay for it. You’re subsidizing the $50 light bulb,” Glenn said.