Volume 89 Issue 36 | p. 12 | News of The Week
Issue Date: September 5, 2011

U.S.-Backed Solar Panel Maker Folds

Bankruptcy: Solyndra got loan guarantee but can’t make a profit
Department: Government & Policy | Collection: Sustainability
Keywords: Solyndra, solar energy

A Department of Energy-supported maker of innovative solar energy systems declared bankruptcy last week, laying off 1,100 workers at its Fremont, Calif., plant. The company, Solyndra, developed a unique tubular solar energy module, which it claimed would be cheaper to manufacture and install than conventional photovoltaic solar panels.

DOE and President Barack Obama agreed with the firm’s claim and two years ago, with much fanfare, offered it a $535 million loan guarantee, the . . .

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