By plugging my hps light into my three prong surge protector(which also runs a fan and timer), will that lower the power of the light versus plugging it directly into the wall? Or am I simply clueless on how sockets work. Thanks.
as long as you're not pulling more amps then the socket and circut is rated for *15amp for most residential outlets* you'll be fine. each outlet on the surge protector should read 120v a/c.
It will not reduce the power to the light. Either you will be fine or you will overload the circuit breaker in the power strip (or the breaker in your fusebox).