- Plug-in solar panels are gaining attention as a lower-cost alternative to traditional rooftop solar, allowing homeowners and renters to generate electricity by connecting a solar system to a standard household outlet.
- These systems are priced from a few hundred dollars to about $2,000, significantly cheaper than conventional rooftop installations, which can cost up to $36,000 in the U.S.
- However, safety experts recommend waiting until products receive UL 3700 certification, which verifies that an entire system meets established electrical safety requirements.
- The certification addresses concerns such as shock risks from disconnected panel prongs and the possibility that solar systems could mask electrical overloads on household circuits.
- Apple stock fell just shy of 10% on Friday after CEO Tim Cook warned about the impact of the global memory shortage on the company's business.
- During Apple's third quarter earnings call, Cook stated that the company paid significantly more for memory in the quarter and expects that to further increase in the current period.
- Cook noted that the company continues to face supply constraints related to its processors, making it more difficult to keep up with demand.
- Plug-in solar systems have become popular in Germany and are now legal in 10 U.S. states, but no systems currently available in the U.S. have received the certification.
- Designed to be lightweight and renter-friendly, these systems can typically be installed without professional help, although some states may require licensed electricians or special outlets.
- For optimal performance, panels should be placed outdoors in areas with at least six hours of direct sunlight, with south-facing locations generally providing the best results.
- Renters should review state laws and lease requirements, as some jurisdictions require landlord notification before installation.
Plug-in solar systems, which connect to standard outlets, are gaining traction as a cost-effective alternative to traditional rooftop solar, priced from a few hundred to $2,000, compared to up to $36,000 for conventional installations.28
However, safety experts advise waiting for UL 3700 certification to ensure electrical safety, as no U.S. systems currently meet this standard. These systems, popular in Germany and legal in 10 U.S. states, are designed to be lightweight and renter-friendly, often requiring no professional installation.39
In contrast, Apple's stock fell nearly 10% after CEO Tim Cook warned of rising memory costs affecting earnings. During the third quarter earnings call, Cook noted that the company faced supply constraints and paid significantly more for memory, which is expected to rise further.7
Apple reported earnings per share (EPS) of $2.02 on revenue of $109.4 billion, surpassing analyst expectations. However, iPhone revenue of $54.2 billion was slightly above expectations, while services revenue fell short at $30.7 billion.
Analysts predict that increasing memory prices could pressure Apple's iPhone margins, with Jefferies analyst Edison Lee estimating a potential drop in gross margins from 38% to 34.5%.
KeyBank's Brandon Nispel warns that rising iPhone prices could slow unit and user growth, impacting services growth.
All eyes are on incoming CEO John Ternus, who will take over from Cook on Sept. 1, as the company navigates these challenges.
“Plug-in systems cost from a few hundred dollars to about $2,000 versus up to $36,000 for rooftop installations, yet none have UL 3700 certification. Cook warned of memory costs even as Apple beat Q3 estimates with $2.02 EPS and $109.4 billion revenue.”
Baton Rouge Business Report
