Well done! 
Two small remarks:
Make sure your timezone is set correctly
“UTC-05:00” in fact means an offset of +5 hours to UTC in this case, so if your local timezone offset would be -5 hours to UTC you have to set it as “UTC+05:00” (the sign has to be inverted).
Also, setting the timezone in the “UTC-xx:xx” or “UTC+xx:xx” format will not take DST changes into account, so you have to correct for this manually if applicable.
Better would be a timezone like for instance “America/New_York” because that would take DST into account, but you have to check if this works in your case, because there currently is a bug in the ESPHome Time integration wrongly interpreting many of that kind of timezone entries.
See also: Time format help
And one improvement for the if statement:
if ( ( (t_now >= 530) && (t_now <= 730) ) || ( (t_now >= 1630) && (t_now <= 1730) ) )
This does not make a difference for your current time periods, but makes it possible to even set time periods of only one minute, like for instance 16:00 - 16:01