Yes, and the key to making your basement feel like a cozy part of your home is often lighting-related. You can make a beautiful basement with every surface finished just like the rest of your home, but lighting is what can bring it all together.
If windows aren't an option for your basement, a thorough plan for warm, inviting lighting is even more important — and if you do have windows in your basement, making the most of them in combination with other lighting can go a long way.