It's the focused light that you receive from LEDs that make it much more efficient than the HID.
Are you currently pursuing a commercial operation? If so, let me tell you what is happening in my area right now in these commercial facilities ... They are switching out the HID lighting and replacing them with LEDs. My nephew is an engineer at one of these grow ops. This weekend, he told me about how they have swapped out 70 1000w HPS fixtures for 70 ROI-E720's in his facilities. They expect the savings alone on electricity costs (lighting and cooling) will pay for this upgrade within the year.