Aloha,
If you are not so handy making your own LED lights as Kevin/Fatman, the
twist CF/PC bulbs are still the best option, IMO.
There are two factors against using manufactured LED bulbs:
1 - The bulb still needs a $5-$10 socket to screw
into(discard the reflector)
2 - To get sufficient light output the right LED bulb will cost $30 or more
The PC(power compact) twist bulb in a round reflector, like Aaron/love2skiutah shows us
above, is still a better value because of lower initial cost($5 ea. in a 2-pack). Currently,
when looking at light output per dollar spent and the fact that an LED bulb still needs a socket to screw
into(but no reflector), the PC(power compact) twist bulbs are about as
cost effective over the course of 3-4 years.
Important Tips:1. Choose the "Daylight" rather than the "Warm White" color rendition. This "daylight" spectrum is better for growing algae. (The absolute best spectrum is a pinkish/purple light but that is another topic and small lights like that are typically not available.)
2. Buy the light bulb in as high a wattage as possible
for your situation. 100-150 W equivalent if possible because Macroalgae
in a Refugium does best in very bright light.
3. Zip Tie your
clip on light fixture to the plumbing above or to a screw in the stand
as I try to show in the old rough sketch below. If the clip is in the way,
remove it and Zip Tie straight to the power cord (the light is very lightweight so this is okay from an electricians point of view) or use multiple Zip Ties to hang the
socket/reflector.
4. Place the light as close to the algae as possible, but not so low
that water will touch it when the return pump is off and water is at it's
highest level.
Some will try to argue the pointm but PC(power compact) twist bulbs are actually about as
cost effective over the course of 3-4 years. When twist PC bulbs became available about 8 years ago, we found they were so effective that everybody and their dog was using them over their Refugiums. LED's are still too expensive compared to their value as a Refugium light. I believe this will change within a few years. I said it 5 years ago and still believe that one day we will be using LED's for everything.
Aloha,
Mark

Two images below

Edited by Mark Peterson - February 11 2014 at 8:59am