It isn't less power consumption. Its about the same power consumption for more yield. If you don't need the yield, there isn't much savings.
For example, I'm running two Higrows, for a wall usage of about 375 watts. Let's say I get .5 gr per watt for the grow. That will be about 180 grs, or about 6 ounces. We smoke about an ounce a month. Over the four month cycle, we produce more than we consume. I don't sell, so the excess is simply free weed; no actual savings.
If I get the timber grow lights 300 Watt COB setup, I'm out $579 bucks. Yeah, I'll get more yield, but again, the excess doesn't really do me any good; I don't sell. I'll spend $300 more than I'm out now. My electric rate is $.07/kwh, so the electric savings is minimal. I'll save about 75 watts/hour over the grow, or about 11 bucks over the crop.
I get that COBs are better. But they are pretty expensive to get that better. I'm gonna see what the higrows will do. The reviews by the actual users on Amazon remain more positive than the reviews by the non-users here, and my past results were quite successful as far as they went. I remain cautious about what the budding will be like, but we'll get that knowledge soon.