If you live in a very hot region and want to cut down the electric bill (ie; no chiller) then LEDs are really a great choice.
Just be sure to select an LED solution that will get the results you desire.... meaning, going for a cheaper off-brand or DIY LED solution may lead to more problems in the long run.
Do your due diligence and then decide which ones are right for your corals needs and your budget. But remember to factor in the savings from not having to change your bulbs and the reduction of electrical usage!.