Because these Chinese lights are all junk using the lowest end LEDs, some even use rejected chips and drivers. open one up, it may scare you. I've seen bare drivers inside cheap light! and the efficiency sucks because of the cheap components. they are not a bargin, they are a waste of money period. i could grow more with an LED flashlight........lol!
And yes, a good light costs more.........or does it. I can build a DIY COB or QB board based light for the same $300.00 that will totally stomp any Chinese light, and only draw 260 actual watts. St 51% efficiency.
And watts are a meaningless way to measure these lights. You'll notice all the these junk light seller post "specs" of the lights that tell you nothing of value. Where's the PAR info? PPFD? Even lumens per watts is more usueful than anything they provide. these companies prey on new growers who are eager to get started and haven't done enough research to realize just what they are buying. I too learned the hard way. So everyone should take the time and see what good lights can do. I spent $500 to build a light that can do this, show me one of those cheapo lights that can do this:
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