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Yes, you can install a ceiling fan where a standard light fixture is, as the electrical wiring is often similar and may not need to be replaced. The most important step is to ensure the ceiling can support the fan's weight and motion. You will need to replace the existing light fixture's electrical box with a fan-rated electrical box, which is specifically designed to handle the extra weight and vibration. These boxes will be labeled as suitable for ceiling fan support and will indicate the maximum weight they can hold. Before you begin, also consider if you need an extension rod for a high ceiling or a special mount for an angled ceiling.

If the fan doesn’t have a switch, connect the white wire from the ceiling to the white wire from the fan; connect the green wire to the ground wire; connect both black wires; and connect both blue wires. If yours has a switch, the white and green wires are connected the same way. However, connect the ceiling’s red wire to the light’s black wire and the ceiling’s black wire to the fan’s black wire. 

Whether you can install a ceiling fan yourself depends on if you're replacing an existing fixture or installing one where no wiring exists. If you are replacing an existing fan, an experienced DIYer may be able to do the job, which can save on labor costs. This work typically doesn’t require a permit, but there’s always a safety risk when dealing with electrical components, so hiring a pro is still a good idea, especially if you aren't handy. Keep in mind you may need a special ladder for high or vaulted ceilings. However, if you are installing a new ceiling fan where there is no current fixture, you must hire a licensed electrician. In most areas, it is required by law that a professional runs new wiring and pulls the necessary permits. Attempting to install wiring yourself can be dangerous and a code violation.

Ceiling fans are very often worth the investment because they improve comfort in your living space and help reduce utility bills. In the late spring and early fall—and even in the summer in some areas—homeowners with ceiling fans can often get away with open windows and fans, which can cut down on cooling bills and also reduce wear and tear on the HVAC system. Over time, ceiling fans can pay for themselves by saving you money on electric bills and air conditioner repair and maintenance.