This paper presents an economic analysis of agrivoltaics in the United States, focusing on theirimpacts on energy capacity factor, electricity generation efficiency, and land use efficiency in terms of both revenue and profit. The analysis uses data from 4,160 photovoltaic projects, including 599 AV farms. Two-way fixed effects models with interaction terms are employed to assess the effects of AV status, sheep density, and PV panel density across farms of varying sizes. The results show that AV increases the capacity factor of PV panels by .98%, regardless of farm size. Although electricity revenue per acre tends to decrease under AV systems due to lower PV density, the overall revenue performs differently. Small farms experience a 34.5% increase in the overall revenue per acre, but revenue per unit area declines with the increase in farm size: for farms larger than 100 acres, AV reduces the overall revenue per acre by 28.5%. Most profits from dual-land use come from sheep grazing, and the effect is strongest when the sheep sources are through breeding rather than auction. In such scenarios, the impact of sheep density on profitability is particularly significant.