Copper, crime and your streetlights
As the New York Times reports, copper is in high demand as a component in telecommunications. electric cars, grids and data centers. Its value has soared since 2020, frequently hitting $5 per pound, according to Trading Economics.
For thieves, that makes even small amounts worth stealing, and streetlights are a target nationwide.
Last year in Los Angeles, criminals stole copper from more than 3,700 streetlights, leading to an estimated $17 million in repair costs, according to LAist.
When copper is stripped from a single streetlight it can impact others in the circuit. On average, repairing and reinforcing just one circuit — with 18 connected lights — can cost $36,000.
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Learn MoreCopper theft impacts insurance rates and property values
It’s not just taxpayers that have to pay for copper theft; it’s property owners.
Copper was at the heart of 95% of metal theft insurance claims from 2017 and 2018, according to the most recent analysis by the National Insurance Crime Bureau.
When it comes to streetlights, premiums may rise as lighting outages lead to more insurance claims for car theft and break-ins. Insurers may also limit coverage or drop high-risk areas altogether.
The ripple effects extend to real estate. Safety is a top concern for today’s buyers, and many avoid neighborhoods with persistent lighting and safety issues.
For existing homeowners in neighborhoods targeted by copper thieves, that can mean lower property values, challenges refinancing mortgages and long-term financial uncertainty.
The residents of Los Feliz are asking their Councilmember Nithya Raman to take action now. Her office said she is working on making repairs “swiftly.”
Meanwhile residents have installed motion detectors and other security measures to protect their property and their neighbors.
Until real action is taken, the cost of darkness may prove far greater than the price of copper.
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