I have four 12V DC power supplies powering four separate loads (12V LED light strips). Is it safe to use a common return path for all four loads?
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It depends on the total current and what the cable is rated for
Let's say each 12 V LED strip consumes 12 W, then each LED strip has 1 A flowing through it. For each LED strip, the ground wire needs to carry 1 A, from left to right in your schematic it will show 1 A, 2 A, 3 A and 4 A at the bottom.
Given my 12 W example you need a cable that is rated for 4 A, since you have 4 LED strips and 1 A per strip. According to powerstream you need 15 AWG or you can have several cables in parallel with higher AWG values.