I always tell people to go with HID lighting, I hate cfls, but are you sure you can use a HID light in that space unless maybe it is a CoolTube?
You have 24 total inches of height, 2 feet, right? By the time you subtract the height of your pots and the minimum amount of distance from the top of your cabinet that your light will need when fully raised and then subtract the minimum amount of distance you will always need to maintain between your light and the tops of your plants that 2 feet has shrunk a good bit leaving very little space for plants to grow in.
If it is a small cheap batwing design hood it will likely be at least 6 inches tall and maybe up to 9 inches, but lets say 6 inches. Unless you bolt it directly to the top of your cabinet, which means you will then not be able to raise and lower it, you can add no less than 3 inches for hanging it as close to the top of your cabinet as you could hang it. Right here you are up to about 9 inches of your total overall height used up by your lighting.
I don't know what pot size you will use but if your pots are 6 inches tall that's another 6 inches of your total 2 feet gone and you will need no less than 4 inches minimum between the tops of your plants and your light at all times so added together that's another 10 inches of your total overall height eaten up.
10 inches and 9 inches added together come to 19 inches. That leaves 5 inches for your plants to grow in before they get too close to your light.
Did I miss something somewhere in your total overall height? Was the 2 feet actual usable growing height, as in what you would have left after pot height, height of the light you are considering and the minimum amount of space needed to be maintained between your bulb and the tops of your plants, or is 2 feet the total height inside of your cabinet?
Unless I am missing something somewhere you just can't use a HID light in there, unless MAYBE you get a CoolTube and can hang it so it is just about touched the top of the cabinet, and maybe even touching it, but that would only save you somwhere around 4 to 7 inches, max. Even if you could use a CoolTube I would say got to a 250-watt for a better light footprint. But you would have to add ventilation for the CoolTube so that would likely mean you wouldn't want to choose one.
As much as I HATE to say it, I just don't see you being able to use a HID light in the space you have to work with. I don't see there being the room you will need for your equipment and plants.
As for the price you mentioned, you can purchase a 150-watt HID HPS light with a magnetic ballast for $69.75 plus shipping from HTGS and if you call and order over the phone and to a little negotiating sometimes you can get them to eat the shipping or reduce the shipping costs and a 250-watt HID HPS would cost $117.95 plus shipping. Either way you will lose a good bit of space/height to either one.