Photovoltaic Industry Bankruptcies Struggling Local Businesses in the United States

Release time：2012-04-20

        In today's consolidation grew louder, the tide seems to come at a time when bankruptcy. Although installed photovoltaic industry in the United States last year than the previous year has a lot to improve, but at the same time, by the pressure from international competition and fellow plus government loans policy adjustments, make the United States is struggling corporate finances. Part of the enterprise bankruptcy can see the problem, the government and industry in the future development of what to do, is complaining, or continue to strengthen our cooperation?Problems, early solve, no matter how you can be sure, it must promote industry integration.Rest of the world market is also should heed that example, strengthen market awareness, tell the cliques, jointly do a good job in photovoltaic industry.
        Is rich in Solar energy company (Abound Solar Inc.) last year received $400 million in federal loan guarantees, to build two Solar battery components manufacturing facility.Later, because the price of solar modules in the last year fell 50%, the company shut down one of the factory is located in Colorado, also laid off 180 employees, nearly half of its workforce.Is rich in solar energy, explains closed solar module factory in order to speed up the development and production of a new generation of efficient components.As of recently, is rich in solar energy have been raised about $70 million in loan guarantees, plan in indiana, another solar manufacturing factory, construction, but delayed the construction project.
        Another related to Solar energy company from bankruptcy, energy conversion equipment company in Michigan court filed for bankruptcy protection, and wants to sell its Solar subsidiary, joint Solar Ovonic (United Solar Ovonic).Because of excess inventory, energy conversion equipment company in November last year to stop the lightweight thin film photovoltaic products production in the United States, and temporarily for 400 employees.Since 2009, energy conversion equipment company has failed to profit, until June 30, 2011 on a fiscal year loss to $306.4 million.Energy conversion equipment co., LTD. Is a fourth declared bankruptcy last year solar manufacturing companies in the United States, after others.For the other two companies SpectraWatt and Evergreen Solar, are announced the bankruptcy after the big job cuts.
        In Germany as its largest shareholder Solar Millennium began to start the bankruptcy proceedings, the Solar Trust (Solar Trust of America LLC) has filed for bankruptcy protection.Previously, the company has plans to build 220 miles east of the city of Los Angeles 1000 mw blythe solar power project.Solar trust in April last year won $2.1 billion in loan guarantees for the department of energy (doe), but in the end did not sign the loan.Trust in Solar Millennium after filed for bankruptcy protection, Solar energy lost most of liquidity.