Today, Royal Philips Electronics (NYSE: PHG) announced the industry’s first replacement for a 60-watt incandescent light bulb.  The EnduraLED light screws in just like an incandescent and only uses 12 watts of power while providing 806 lumens.

Philips tinkered with the design to provide multi-directional lighting and the phosphors to create just the right color of lighting.

Although the retail price hasn’t been determined or announced, Greentech Media is reporting that Ed Crawford, CEO of Philips Lighting North America, said at LightFair the A19 bulb will sell for something near $60.

An LED like this has the potential to change residential lighting (and maintenance) significantly.  U.S. consumers purchase 425 million 60-watt incandescent light bulbs every year, which is about 50% of the incandescent light bulb market, according to a press release issued by Philips.

The EnduraLED could last up to 25 times longer than regular incandescent lights.  Incandescent light bulbs typically have a rated life of about 1,000 hours, while this EnduraLED has a rated life of 25,000 hours.  Philips says the EnduraLED will be available in the fourth quarter of 2010.

[+] Learn more about the EnduraLED from Philips.

Media credits: Philips.