24 Sep '13, 5pm

US Solar Manufacturing Woes: Helios Shutters Plant, 1SolTech Slapped with State Lawsuit

US Solar Manufacturing Woes: Helios Shutters Plant, 1SolTech Slapped with State Lawsuit

New Hampshire, USA -- Just before the Solar Energy Industries Association (SEIA) announced its encouraging plan to resolve the U.S.-China solar panel trade dispute, two of the few-remaining U.S. solar panel manufacturers released some disheartening news. Helios USA announced that it would halt its operations, and 1SolTech received a lawsuit and temporary restraining order from the Texas Attorney General. Helios, a U.S.-based solar panel manufacturer, has closed its doors and filed for receivership. Its remaining 24 employees have reportedly been laid off. The Milwaukee-based mono-crystalline panel manufacturer opened in 2009 and began making panels at its 50-megawatt (MW) capacity factory in 2011. Helios received funding through both private equity and bank and government loans in 2009. However it failed to make an $116,951 payment on its $1.3-million Wisconsin Department ...

Full article: http://www.renewableenergyworld.com/rea/news/article/2013...

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