Solar power

In Jan 2000, California mandated that all new houses must have solar panels. These had a favorable cost/benefit ratio because the excess power could be sold back to the power company. A new innovation which combined solar panels with roofing tiles allowed easy and inexpensive installation. The new company was set up in 2022 and could produce enough solar/roof panels for all new housing. Then in 2023 the state reduced the amount paid for the return of unused power by 75%. This upset the return on investment to the point where new sales dropped by 80% and the company moved to Texas. The result was 17,000 jobs lost in the solar panel industry because of the manufacture of panels included many other industries to provide needed materials. In Texas the buy back by electric companies remained but an added bonus was that California had 30 cent power cost vs Texas at 9 cents and California had an 8.8% corporate tax along with a 13% income tax and Texas had neither. The new plant in Texas at 450,000 sq ft is six times larger than the California plant and the company is investing $100 million dollars.