To the op:
@Heres_doe_
You have answered size and depth and what you are looking to keep several times in this thread.
The long and the short is, it's going to be more difficult to get a "budget" system to match what you have. I'm not saying it can't be done but the t5 system you have over your tank is pretty powerful. You will read a lot of people tell you get this or that, I'm going to instead try to give you some information so you can decide.
If you are looking to completely replace all of your t5 with led I would expect to spend between 1000 to 2000 dollars in upfront costs. On the low end that would likely not cover any mounting hardware (and may not on the high end either).
Pretty much all of them will come with a basic mounting option which will be some steel braided cable with a few screws that you will have to hook to the ceiling.
Your electrical usage will likely not vary much but this depends greatly on your individual situation (I ended up spending more on electricity initially as my heaters ran far more often. When I moved to California however that was not the case) You will have the advantage of not replacing the bulbs every year or so.
The "budget" led systems can absolutely grow coral but to get to a budget price point, there are things that are sacrificed.
One of the 1st to go is full channel controllability. Budget systems usually have only a few channels while the higher systems have a channel for each color. What does this mean? A higher end light has more controllability over the color. This could be both an advantage or disadvantage seeing how you look at it (some people turn too many dials on a whim). They will also lack some of the "features" of the higher end ones like intermittent clouds, thunderstorm, ECT that a More sophisticated controller provides (personally, I think this is all gimmick and completely unnecessary. I have never used any of these features).
The budget systems will often use a cheaper Chinese LED over a Cree. I'm not sure if that really matters (I have a Hydra 32 HD sitting in a box ready to go back for service because the Violet LEDs are burnt out, these are supposed to be a higher end light, think a Toyota Corolla vs a kia).
They will often use a cheap plastic lens and reflectors, which can contribute to the "disco ball effect" that many complain about. Though again on the hydra 32 HDs I have over my frag system, the lens melted a bit on the UV channel. They did however replace them for free for me.
I have found that the cheaper lights simply do not have as much depth penetration. That's the higher end lights. I'm not completely sure why, but I believe it has something to do with the reflectors Aunt quality of the individual LED. I will use my display as an example. I have a 30-in deep aquarium and was initially using 8 hydro 26 HDs. At full power I found myself getting about 120 par at the sandbed. With the reefi unos I am getting right around 300 at the sand bed with each light running about 165 w. These lights have a maximum capability of 300 w per unit.
The company makes a difference. Aqua illumination (I am by no means advocating them, they have faults) has replaced multiple pieces for me over the years for free. Even though it was technically out of warranty. There was never a fight or a discussion. They just did it. I am currently using reefi 2.1s over my display aquarium. Daniel boasts a 3-year warranty over a standard one-year from most of the companies. Customer service seems pretty good so far, I haven't had to use them much. As opposed to a rma department. I have heard of people saying if they have a problem with one of the AliExpress lights you simply have to eat that cost as there is really no way to get in touch with the manufacturers.
I've been at this since 1998, and seen a lot of unusual setups that just work. There is no best this or that. You'll eventually have to trust yourself to figure out what works for you.
I hope you find this helpful.
