Name of a children's book about a single stand of white Christmas lights?

I remember reading it as a child. In it, in an effort to outdo his neighbors, the father, who usually puts up 1 strand of white lights, keeps putting up Christmas decorations, until he eventually causes a blackout. Angry neighbors ransack his yard, destroying all of his decorations. While they feel guilty and offer to rebuild everything, he decides to only put up one string of lights. Anyone know the title and author of this book?