if take a light meter and wanna compare mh bulb and t5 tubes...u will take a few t5 tubes to match with a single mh bulb....in that sense, you can already add up the cost of a few t5 tubes and will be more expensive than a mh bulb...and also the total wattage of the t5 tubes together will be higher than the mh bulb..meaning more electricity costs....
coz the t5 gives light to the whole length of the tube whereas the mh bulb is a concentrated point of light like the sun....so if you measure only a spot...like the spot where a sps or clam may be situated, the t5s cannot provide enough intensity to it....