Wingo
I run a 48" T5 Aquactinics Constellation Fixture which consists of 7x54w bulbs for a total of 378 watts. I only run my fixture 6 hours a day.
The fixture which I purchased used was $550 but retails new for $680. Recently I put in new bulbs which ran $160 so all in I'm at $810.
If I use .25 kwh to round up at 6 hours per day x 30 days per month x 380watts (rounded) per hour=2,300 watts rounded per day x 30 days=61,000 watts or 61 kilo watts rounded x .25 kwh=$15 per month to run my lights.
If I run LEDs say 90w x 2 units I would be saving 200 watts per hour x 6 hours x 30=36,000 watts or 36 kilo watts saved or $9 per month in electrical cost.
Let's say I only really need to run the LED's at 75% then I'd save maybe $12 per month or $150 rounded per year.
Add to that $160 in bulbs per year the total saving is approximately $300 rounded per year.
If you factor in the cost of 2 new fixtures like Pacific Sun say $1600 not sure what the price on these is and I sell my fixture for $500 my incremental investment is $1100 so I would recoup it in approximately 4 years.
This is all off the top of my head so correct me if I'm wrong. Obviously my payback horizon would be shorter if I ran my photo period longer.