Nobody can really help you decide what will be the best for you, except for you.
The main thing that I will offer is to take advice for each type from people who still use that type. Mostly, the downsides are offered as non-objective strawmen to justify some reason that they use what they use that do not pertain at all to the real world with the other products - you do not have to change T5 bulbs every six months (unless you overdrive them), MH do not produce heat that is unbearable and difficult to manage, etc. ...and don't buy into the "I have used every kind" or "I had to stop this or that because of this or that" posts... just listen to the current users in today's reefing climate and market. Too often the "past use" was when the hobbyist was just not as good as they are now and the current love coincided with their ability to just generally reef better. There can be some help with people who truly are great at their craft comparing different light types, but these rarely post since they get sick of arguing with the noobies and experts whose tanks are not even wet yet (I have locals tell me that their light grows and colors as good as possible, but then they come to my house and see what color and fast really is - they are not liars or anything, just no real basis for comparison). Do not pay attention to vendors, either - they have different goals than a hobbyist and often do things when people are not in the store that nobody knows about.
Listen to the T5 users who tell you that they change them yearly, or less often. Listen to the MH people who say that a simple fan will take care of nearly all heat issues and even save you some coin on running high wattage heaters. Listen to the LED users tell you about this or that which is important to you.
Lastly, about money... to light the tank with the same coverage and output, there is no energy savings. You can save money by making choices to run less wattage, but that is choice savings, not tech being more efficient. I am with the people who have seen that it takes 2.5 Radions to ACTUALLY replace my 250w Halides running at 320w and with the Radions at 100-120w apiece, this is a push, plus the heaters have to run more.
Beyond, lastly... consider that LEDs do not last forever and need replaced. I would factor in about 5 years on each unit. Some use them longer than this, but they are truly in the minority. For me, I use 5x 250w Halides over my reef and the phoenix 14k bulbs are about $50 each, so 250 per year, or 1250 for 5 years for bulb replacements. I would need about 12-13 Radions (say 12.5) to replace them, or about $1875 a year for 5 years. The electrical costs are a push. Each situation is different, but do not buy into the rhetoric or hype and get down the real-deal and you will make a decision that works for you.
