Philips Semiconductors boasts that a new ‘GreenChip’ costing just $2.50 can save up to 99% of the power used when TVs, VCRs and computer monitors are on standby. The company claims that if its GreenChips were used worldwide, dozens of power stations burning fossil fuels and damaging the environment would not be needed. A GreenChip can reduce typical power consumption from between 5-10 watts to just 1-2 watts and yet be able to supply full power in less than a second, the company claims. TVs and VCRs containing the GreenChip will be in the shops soon, says Philips, though there is no word yet as to when the first computer monitor with the technology will appear.