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Appliances account for 20% of the typical household's energy consumption. That being the case, manufacturer Electrolux is holding their 2007 Design Lab, a competition challenging students to design eco-friendly devices for the year 2020.

"Design is at the heart of the Electrolux brand," says Henrik Otto, Senior Vice President of Global Design. "I'm excited that this year's competition will bring us some innovative sustainability ideas. And who knows? What's impossible to manufacture today might be possible in 2020."

Finalists receive an all-expenses-paid trip to Paris for the press conference and design workshops; first prize also includes 5,000 Euros and a six-month scholarship at one of Electrolux's Global Design Centers. Save the environment and a trip to Paris, not too shabby!