Damn that shop looks awesome!!! Just curious- Did you noticed the reduced light output (105,200 vs 112,000 lumens)? Is the quality of light better than the HID's?
No as a matter of fact, HID drop to about 70% efficiency very soon after they are first fired up, meaning that HID is really putting out about 78,000 lumens. LED is way brighter, holds its lumen output longer, and has better beam spread. Not to mention there are no damaging UV rays from this style of LED. It looks like I increased my lighting output
Also, how'd you figure the 4 yr payback? Using your scenario (1 hr/day), I got about a 9-1/2 yr payback- $880 / (2.32 kW savings * 365 hrs/yr * $0.11/kWh)