Lighting Type    
Pros
Cons
Fluorescent Bulbs    

Energy Efficient

Easily Replaced, Generally Cheap

Heat production low

Great for small plants


Low PPFD output (this can be good for seedlings/cuttings, not so good for veg or flower)

Low light penetration

Must be suspended close to plant


Induction Lamp

Long Life (approx 2 years)

Energy Efficient

Heat production low


Heavy

Take up large amounts of space

PPFD output diminishes over time


Metal Halide (MH)

Lifespan of about a year to a year and a half

White spectrum

Fixtures take up minimal space


Higher Heat Output

Older HID lighting technology

Less electrically efficient

Contains mercury

RF Interference from Ballast


Ceramic Metal Halide (CMH) / Light Emitting Ceramic (LEC)

Moderate heat production

Newer HID lighting technology

Blue-White spectrum

Fixtures take up minimal space


Contains mercury

RF Interference from Ballast


High-Pressure Sodium (HPS)

High PPFD output

Orange spectrum

Fixtures take up minimal space


High Heat Production

High electrical demand

Contains mercury

RF Interference from Ballast


LEDs

Energy Efficient

Heat Production Low

Long Life (approx 2-5 years)

Can produce output in UV spectrum

Most models allow variable spectrums


PPFD output diminishes over time

Tend to be expensive


Plasma Lights / Light Emitting Plasma (LEP)

Spectrum very similar to sun

High PPFD output

Energy Efficient


High heat production

Tend to be expensive