Custom housings 100$
Digital Ballasts 75$
HPS Bulb 10$
Being able to see the fish further than 3ft from the boat.
$Priceless.
Realistically if you add it up.
Housings will cost you 85$ - 125$ depending on who you go with.
Digital Ballasts 400w will run 75$ - 125$ depending on the brand you choose.
Bulbs are 7$ - 12$ buying them online vs local
So roughly you can have 4 400w hps in custom housings and digital ballasts for as little as 680$. Which comes out to 200,000 lumens. And runs efficiently at a little less than 2000w.
50w LEDs run around 100$ per. Some are more than others. EBay has some for cheaper but on average your looking at 80$ - 120$ per light. To equal the lumen output you would need 40 50w LEDs. Which surprisingly comes out to roughly. 2000w. But now you have a cost of...4000$.
Of course most will get good coverage with 10 50w LEDs which I believe some vendors run a discount when buying ten of them and you can get them all for under 800$.
Some are happier with the smaller LEDs which will come out costing less,
. I am not bashing LEDs, in case it comes across like that. It all comes down to personal preference.I mean some guys are more rthan content with a small flash light on their bows.