Step 1 find the number of INC bulbs needed over this bulb's lifetime

795 / 750 = 1.06

Step 2 determine the cost of replacement INC bulbs and the difference with this bulb's cost

1.06 * $0.50 = $0.53 cost of replacing the INC bulb

$0.53 - $8.95 = ($8.42) replacement savings

Step 3 determine energy usage over the life of this bulb

60 watts * 795 hours / 1000 watts per kW = 47.7 kWh

7 watts * 795 hours / 1000 watts per kW = 5.565 kWh

Step 4 subtract to find the difference in energy usage between the bulbs

47.7 kWh - 5.565 kWh = 42.135 kWh lifetime savings

Step 5 find the lifetime energy cost savings

42.135 kWh * $0.118 = $4.97

Step 6 combine energy savings with replacement cost savings to find total lifetime savings

$4.97 + ($8.42) = ($3.45) total lifetime savings

Step 7 find savings per year

5 hours per day * 365 days per year = 1825 hours per year

1825 hours per year / 795 lifetime hours = 229.56 % of bulb life used per year

229.56 % * 42.135 kWh lifetime savings = 96.725 kWh yearly savings

229.56 % * ($3.45) lifetime savings = ($7.92) yearly savings