Solyndra To File For Bankruptcy, Despite $535 Million DOE Guarantee

Solyndra, a California-based thin film solar company that received a $535 million loan guarantee from the US Department of Energy, has halted operations and plans to file for bankruptcy. Solyndra is the third US solar manufacturer to close its doors in less than a month, and like Evergreen Solar and SpectraWatt before it, Solyndra says it is unable to compete with larger rivals in Asia, as the price of solar panels continues to drop. President Obama visited Solyndra's DOE-supported facility in May 2010 to promote the agency's investments in renewable energy. The company's failure will undoubtedly fuel the fires of the administration's critics. For several months Republicans have been calling for an investigation into how Solyndra was chosen to receive a loan guarantee.

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

SolarRoofHook - Low Profile QuickBOLT

SolarRoofHook - Low Profile QuickBOLT

SolarRoofHook's Low Profile QuickBOLT with Microflashing™ is the industry's affordable, UL Certified Asphalt Shingle mounting system. The Microflashing™ is compressed by the collar on the bolt to create a water-tight seal. With an installation time of less than one minute, the Low Profile QuickBOLT allows installers to complete more jobs.