I have used all sorts,right now I am of the opinion that if you want to keep SPS that ime and I must say others have had differing experiences,they dont cut it. Ive had two different LED dedicated units and had various problems I never got with Halide T5 mixes that I had my most success.
It all depends what you want to keep. LED are perfectly fine for LPS or soft corals but imo if you want to keep SPS you need to go down the mixed route incorporateing some T5 tubes.
The most amazing hard coral tanks are under only T5 tubes.
With halide lights and with tubes they must be changed frequently and the halides generate lots of heat ,the tubes do a bit but not so much.
So it all boils down to what you want to keep and yes the electric is a factor,I did give up marines at one point because of the cost of the lights.