Abound Solar To File for Bankruptcy, Another Solyndra?: Abound Solar Inc., a U.S. solar manufacturer that was a...

Abound Solar To File for Bankruptcy, Another Solyndra? | Renewable Energy News Article

renewableenergyworld.com 28 Jun '12, 6pm

Abound Solar To File for Bankruptcy, Another Solyndra?: Abound Solar Inc., a U.S. solar manufacturer that was a...

Abound , based in Loveland, Colorado, borrowed about $70 million against the guarantee, the Energy Department said today in a statement. Calls to Abound executives weren’t returned today. The failure would follow that of Solyndra LLC , which shut down in August after receiving a $535 million loan guarantee from the same Energy Department program. Abound stopped production in February to focus on reducing costs after a global oversupply and increasing competition from China drove down the price of solar panels by half last year. “When the floor fell out on the price of solar panels, Abound ’s product was no longer cost competitive,” Damien LaVera, an Energy Department spokesman, said in a statement on the agency’s website. [Editor's note: View LaVera's complete article — with excellent solar market analysis — here .] U.S. taxpayers may lose as much as $30 million on the loa...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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@SteveUSC » 29 Jun '12, 12am
Abound Solar To File for Bankruptcy, Another Solyndra?: Abound Solar Inc., a U.S. solar manufacturer that was aw.. [link]
@EcoManLeader » 28 Jun '12, 10pm
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Abound Solar To File for Bankruptcy, Another Solyndra?: Abound Solar Inc., a U.S. solar manufacturer that was a... [link]
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Abound Solar To File for Bankruptcy, Another Solyndra? [link]