When choosing the best grow light to recommend, there are a few things we usually look at: the true output wattage, the spectrum, the coverage, the ratings, and the price. These are some of the things we looked at when selecting the best light under $500. That’s how we came up with the winner, the VIPARSPECTRA Dimmable Series 700W LED Grow Light. Its price is way below $500, which means you’ll save a couple of dollars. It also offers enough watts for 13 big plants (325 watts). It has a long lifespan, so you can use it for a few grow cycles without any issues.