Gallery: Solar Manufacturer Solyndra Files for Bankruptcy

 

Solar startup Solyndra has just shut down, announcing their intention to file for Chapter 11 bankruptcy and immediately let go of most of their 1000 employees. The news comes as a considerable shock, particularly considering how, just two years ago, Solyndra was the talk of the solar world. Not only did the company successfully secure a $535 million loan guarantee from the government, but they opened a massive $700 million dollar plant in Fremont, California. Solyndra blames the failure on the unpredictable market and oversupply that kept solar prices low, but the financial realities of the company, and its unusual solar electric tube technology adopted in the industry, are sure come under scrutiny. The news is also sure to refresh the political discourse surrounding green jobs.

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2 Comments

  1. cudacurl April 4, 2013 at 3:59 pm

    egalitare, it means no such thing. Solar is viable but if you do not do the basics of business well, even McDonalds and Apple suffer.
    Oil will run out and coal will be outlawed. Where do we turn for the power we have all become addicted to? Governments do have to step into the mire, but they must have a seat on the Board to ensure the tax payers are protected from naivety or fraud.

  2. egalitare September 1, 2011 at 12:31 pm

    A temporary setback, but second to the loss of jobs for those employees is the temporary PR black eye this gives thrue renewables. This will be “evidence” that Solar is not economically viable. I hope the employees somehow land on their feet.

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