I switched from a MH/PC combo to DIY LED's from modularled, and love it. The initial cost was a little high, but I'm going into my 2nd year and I love the fact that I haven't had to spend money to switch my lights out for a long time. Next year, I break even on the initial cost on the savings from not having to replace bulbs and energy savings.
Heat used to be an issue in the summer for me as well, but for the 2nd straight summer, it isn't. On top of that, my corals have been growing crazy, and my RBTA's bubbled up ever since I switched to LED's. As for color, I have dimmer's, so I can adjust however I want them to be, and could set up the system however I wanted it to be.
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