condensor takes the same amount of former time as an echelon mirror; collector takes less former time than condensor; the farm is additional former time.
A condensor farm takes 16 terraforming turns. A mirror/collector checkerboard will take an average of 32 per tile assuming 2 raise lands are needed for the typical square. edit: check at bottom for empirical results.
A colony pod is 40 minerals plus there is also "turn advantage" loss as the producing base is not producing something else. That is a considerable cost.
And the energy credits sunk into raising land costs turn advantage as well, since you could have used it for rushing, or to bump up your research, or whatever.
Not sure how this is relevant. If you can't raise land, you can't create more ocean shelf.
Who ever runs out of ocean shelf? Even once all your own shores are colonized, there's still lots around the poles. The possibility of creating more ocean shelf is only relevant late game if you somehow use up all existing shelf. The point is given roughly similar terraforming investment, sea trawling is
more efficient than an energy farm, albeit more expensive mineral wise.
I don't think you have made the case that the cost is similar or lower.
Since sea squares can become land squares, it does use potential land.

I can hardly do so when I don't know the exact energy costs for raising land. I'm seriously considering deleting/reinstalling SMAX and seeing if that fixes the problem just so I can settle this issue once and for all. Now if only I can find my disks... The business with the cost apparently depending on distance to the nearest base as well as raised land also raising adjacent land to some extent likely makes this fiendishly complicated. (another advantage for trawling which can be as haphazard and incremental as you please)
As for the second point, potential land if lots of cash and terraforming time is invested is hardly even close to being as valuable as
actual land.
edit: so I up and did a reinstall and things...don't quite work right. I've a pretty good computer and it takes like 3 minutes to start up SMAX with a lot of wierd changes to the color scheme while grinding away...but it works. So for a 3x3 energy farm with one center edge 2 tiles away from the nearest base starting with the Sunny Mesa, it takes 612 energy credits to raise all 9 tiles to 3000+m. Oddly enough, it's the same for a 3x3 patch simply centered around a single tile over 1000m, with all the others near sealevel due to the way raising the center tile raises the ones around as well. 10 raise lands are necessary, 2 for the center tile, 1 for each of the surrounding. It's definitely cheaper than I thought at just over 1 raise land (call it 13 terraforming turns) and 68 credits per tile. You can reduce that a bit by making a circle of cities such that every tile at the edge of the farm is only 3 tiles from the nearest base, but increasing the size of the farm won't decrease average cost as it increases the average distance per tile to the nearest base.
So a 3x3 energy farm costs 9 land tiles, 188 terraformer turns and 612 credits and 270 minerals worth of crawlers for 48e/turn. To get that return with pre-fusion specialists takes 8 condensor farms at 128 terraforming turns, and 480 minerals worth of colony pods if all 16 specialists need to be podboomed and 240 minerals worth of crawlers. To get that with sea trawling takes 12 shelf tiles with tidal harness at 48 terraforming turns, an 80 mineral facility that is sufficiently otherwise useful to be a gimme, and 600 minerals worth of trawlers. Post fusion, specialists get tricker due to the output spread for engineers, but call it 5 condensor farms and 10 engineers to equal the energy farm, at 80 terraforming turns, 300 minerals of pods, and 150 minerals of crawlers, while trawlers stay at 48 terraforming turns and the 80 mineral facility, but the trawler cost falls to 360 minerals.
Ignoring the land used and canceling out the same resources, prefusion, specialists vs energy farm is 450 minerals vs 60 terraformer turns and 612 (484 if minimized as mentioned earlier) energy credits, while trawlers vs farm is 410 minerals vs 140 terraformer turns and 612/484 credits. It seems about a wash, though surprisingly, it seems trawlers are the most efficient, achieving the same yield as specialists at 40 minerals and 80 terraformer turns less.
Post fusion, specialists vs farm goes
180 minerals vs 108 terraformer turns and 612/484 credits, while trawlers vs farm goes
170 minerals vs 140 terraformer turns and 612/484 credits. Again surprisingly, trawlers are definitely the most efficient as long as you don't run out of ocean shelf (or if you're the Pirates), and both trawlers and specialists are more efficient than the energy farm, as I originally surmised, though the difference is less than I expected and there might be rare instances where the farm wins out.