huge consideration is the power consumption, my frag room generates an incredible amount of heat, which bleeds into the rest of the house, causes the A/C to run more often on top of that the 1000+ watts of lighting, and a 1/4hp chiller. I estimate my saving per month just in my electrical bill to be about $75, wont need the chiller, which is a huge expense, it's like running a refrigerator. Add to that the life of the LED's over my MH's, I just ordered 2 bulbs that cost me $160 every 9 months (this needs to be doubled but I only ordered 2 bulbs this time so it's actually $320 every 9 months = $35/month for bulbs
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Add it all up and my savings per year would be
Powerbill savings for 12 months $900
Bulb savings @ 35 x 12 months $420
Estimated saving per year would be $1320.
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Yeah, everyone says, corals don't grow so fast, but I suspect with the improvements with the new LED's that I can live with a little slower growth