Where to begin... You really need to read the boards. Asking a few questions to get a few answers is no substitution for grasping the idea at hand: cultivation. Without at least a moderate understanding of what you're planning to do, you will be relying on people walking you through everything.

I will offer a few things though:

Iā??ve been trying to decided if I should go with LED's or HPS. Electricity consumption is a big concern
If energy and cost are big concerns, you should look into CFL lighting. They produce little heat, are relatively cheap, and you can use as many/few as you want to determine energy consumption.

And I also haven't purchased any nutes yet; don't know which to go with?
There are more possibilities than you could imagine. If you are asking these questions, than you need to do more reading. If you're not a highly-inclined individual, I would recommend a one-part nutrient so you don't have to mix different parts. I would tell you to use General Hydroponics Flora Series (a three-part). You can follow the directions on the product, or use Latewood's or Lucas' formulas from these boards.