Cree, Inc. (Nasdaq: CREE) announced a new version of its popular LED lightbulb Monday, promising better light with a longer life and more energy savings.

“We believe that better light changes everything, and the newest Cree® LED Bulb reflects our commitment to never compromise on performance,” said Betty Noonan, chief marketing officer, Cree, Inc.

The new bulb has an estimated lifespan of over 27 years (30,000 hours) and throws like that looks more like a traditional incandescent, the company said. It is dimmer-capable and comes in 460 lumens (40-watt) and 815 lumens (60-watt).

The bulbs go on sale later this month at Home Depot stores with a retail price around $8.