Royal Philips Electronics has rolled out a 17-watt LED bulb which equals to a 75-watt incandescent for $39.97 on HomeDepot.com.

According to Philips, the 17-watt LED bulb uses 80 percent less electricity and lasts 24 times longer than the average incandescent. It has a lifespan of 25,000 hours, roughly the equivalent of 17 years of daily four-hour use, and a color temperature of 2,700, which is a warm yellow light similar to that of an incandescent bulb.

Philips first unveiled the bulb, which is compatible to fit into any 75-watt incandescent socket, in May and announced an expected wide release for fall 2011.

At present, the 17-watt LED bulb will be exclusively available for sale online.

Plus ,the company already offers a 60-watt-equivalent LED that has been selling since 2010, and currently costs about $20.