By unplugging the TV for an hour or more you have done a power reset. If this power reset does not allow the TV to turn on component failure is indicated. These sets are assembled using the wave soldering process they are known for having cold solder connections. The safety circuitry shuts the TV set down when it detects a problem. This model of TV has over 2,000 parts which include millions of transistors inside the integrated circuits. The capacitors will change value, leak and become defective. Resistors will change value and burn. Integrated circuits and transistors can go bad. This can cause other components to become defective, which can have a domino effect and cause other parts to fail. Replacing one defective part may make the TV operate for a short time but the part will fail again since if the parts that caused the failure to begin with are not replaced. The only way to know for sure what is causing the problem, which parts that are no longer within factory specs and for proper repair all the electronics must be diagnosed by someone with the correct electronic test equipment and the skills to use the test equipment. The element brand TV was manufactured for Circuit City. There is no longer any support available since Circuit City closed. The only way to obtain parts is through ebay. At this time none are available. If you decide this is not something that you can do and you can find a TV repair shop to work on it I suspect the repair will be in the $350 price range. The TV does have value when listed for parts on ebay. Honestly the money would be spent replacing the TV.
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