There have been several previous threads about grow lights. Here is one:
The thread "Favorite grow lights?" in
Seeds forum
If you have lots of plants, the two bulb T8 shoplights are readily available. They are cheaper than T5's, use less energy than the old T12 fixtures, and although LED shoplights use even less, their higher initial cost means that it would take quite a few years (how many depends on your electric rate) before the cost per year was better than the T8's. When LED costs come down, it looks like that may be the way to go.
As far as color goes, any Kelvin rating from 4500Β°K on up (cool white or daylight white) should have enough blue light for seedlings. If you are using it to illuminate established plants, they could benefit from some red light too, so you might consider putting a warm-white (2700Β°K) bulb in the fixture along with the cool/daylight white bulb. There are LED fixtures with a mix of red and blue lights for this purpose but I wouldn't use them to start seedlings.