I hate to say it but lighting is often the most expensive thing in an already expensive hobby. I wouldn't waste your time or money by straying outside of the commonly accepted lighting methods used in the hobby; LED, T5, and Metal Halide. If looks aren't a concern, the least expensive means of getting lights over your tank with the ability grow coral is to purchase a 4x bulb T5 fixture from the Home Depot in a 36" length. You'll need to also purchase two replacement High Output T5 ballasts for 36" bulbs (Bulk Reef Supply sells them). You'll need to remove the ballasts that came with the HD fixture because they're Normal Output and replace them with the High Outputs ballasts. Then the fun part is to pick four T5 bulbs of your choice (I'd suggest: 2x Blue+, 1x True Actinic, 1x Aquablue special). This 4 bulb fixture will be perfectly fine to grow all LPS and softies, and even some lower light SPS. You generally won't be able to grow acropora unless the coral is placed very high up and close to the lights. ATI HO ballasts cost $27 each.
Alternatively, you could build your own canopy frame (which is very simple to do) and then purchase 2x T5 retrofit kits from BRS that include: ballasts & wiring harness, reflectors, and waterproof endcaps. In either case you'll have to wire the ballasts and endcaps yourself which isn't hard to do. The Retrofit kits cost $122 each, bulbs not included.
If you wanted to get a little fancy... if you build your own frame you could incorporate 2x AI Prime LED's into the fixure. This would give you the intensity necessary to grow pretty much everything as well as the controllability for a dusk/dawn ramp, color adjustment to suit your taste, and shimmer! AI Primes are about $200 a pop.
