12.3 Solar's yield actually rises year over year

Some people argue: even if solar yields 10–20% per year, the system itself depreciates, so it isn't a good investment.

It sounds reasonable, but it's a textbook mistake. It's the consumer-product mental frame applied to an investment.

California electricity rates over the last decade: $0.16/kWh in 2014, $0.32/kWh in 2024. Doubled in 10 years.

So the solar system you install isn't an asset you flip a few years later. It's a device that continuously generates higher returns as electricity prices climb.

Think of it like a mining rig running Bitcoin: what matters isn't what the rig sells for in a few years — it's the cash flow it produces while it's running. As long as it spins, you earn.

In the U.S., especially in a high-rate market like California, learn the energy-investment frame.