Go with LED. Check with your electric company. Here in Maine they used have a service to help analyze what works best in commercial establishments to change over with a subsidy. That ended years ago, but there is an organization called Efficiency Maine that works with some electricians to help with the cost. BO had some of the lighting done, but the guy hasn’t come back to do the arena lighting yet.
There is a store, Batteries Plus Bulbs, that has the ultimate bargain. Duracell will have rebates on 3-packs of LEDs and Efficiency Maine has a subsidy that wipes out the rest of the cost. Most of the time you can get them free and just pay the sales tax. I’ve had to pay 50 cents/box a few times. I got a dozen boxes for the office, classroom, bathroom, tack rooms, etc. Much better lighting and cheap. I get daylight or cool for the barn, soft for the house. That store has every kind of battery you can imagine and a great selection of LED flashlights. I revived my HP 12C calculator. It is a franchise company.