You want your lights to be like 2 ft max away from your plants, if they are hanging almost 8 feet above the tops and you have an entire basement youre going to need a TON of light to flower. Veg not so much, but youre talking about spending your whole budget on lights that still might not be enough depending on what your area looks like. For vegging though Ive heard of people getting away with the 8 watt regular basement ceiling tube lights, but those aint gunna cut it for flower.
My 3x3 tent has 3 100$ lights that cover the area well, and can fit about 3 maybe 4 flowering plants depending on size. A decent benchmark is 35 watts/sqft if youre getting leds for flower.