Los Angeles' 140,000 streetlight fixtures will be replaced with LED units over the next five years with help from the Clinton Climate Initiative in the most extensive municipal green lighting retrofit thus far. The upgraded lighting system is expected to save the city $48 million in energy and maintenance costs and cut carbon emissions by 197,000 tons over a seven-year period. The cost savings accrued during that time are to pay for a loan that will fund the project. After paying back the loan, the city is expect to save about $10 million a year in costs, reduce electricity consumption for lighting by at least 40 percent and cut carbon emissions by about 40,500 tons a year.