as long as it is individually reflected, T-5 will produce more PAR than 150 W MHs.
wattage does not heat your tank, what does is light energy and inefficient lightbulbs / technologies. MHs are very inefficient as they give off lots of heat radiation. this, along with strong light energy exciting the particles in the water causes dramatic heat increases. T-5s are very efficient, and even better when a cool breeze is blown over the bulbs, but even they can heat up the water with pure light energy alone. this can always be countered by fans in the right places.