Yes. The new bulb will only draw 26 watts. It will give as much light as a standard 100-watt bulb, but it will work fine even in a 30-watt socket.
Now if they could come up with something that can replace our reef aquarium lighting on our 150 gallon tank. It has 2 250 watt halides and 4 VHO’s that spin our electric meter like a 78 record.