LED lights are more costly but use up to 80 percent less energy than incandescent lights and last up to 25,000 hours.
Customers can trade in up to five strings of the traditional incandescent lights for coupons ranging in value from $3 to $5.
The $3 coupons are good on Home Accents Holiday LED string lights, which are $14.97.
The $4 coupons are good on the purchase of Martha Steward Living or General Electric LED light strands, which range in price from $11.97 to $14.97.
And the $5 coupons are redeemable on Eco Smart or Lightshow strands, which cost between $14.97 and $48.97.
Customers must purchase their new LED lights between Nov. 3 and Nov. 13. This is the fourth year that Home Depot has offered the Christmas lights trade-in program.
What will Home Depot do with all those tangled strands?
Each strand is clipped, shredded and separated into parts and recycled, according to Home Depot spokesman Craig Fishel. Last year, the company recycled more than 303,794 pounds worth, he said.
"We have a zero-tolerance landfill policy with these lights," Fishel said.