It seems like the entire PV solar sector is in financial dire straits. Collapsing prices, stiff competition, slowing demand... Not only in the US but also Chinese companies are struggling...
What is going on? Are there larger trends at play? Is it all about the price of oil?
I think the problem is caused by nuclear energy lobbies
A gloomy news indeed for all of us routing for renewables to become mainstream. Hopefully the overcast on the sector will clear soon and commitment to the sector will find serious, long-term supporters.
Solyndra is a California-based solar panel producer. A federally guaranteed loan of $535 million was a serious part of the investment that permitted the company to grow. However, the glow did not last long because this week, Solyndra announced that they will be declaring bankruptcy. Furthermore, it is still not clear what portion of Solyndra’s more than $1 billion debt the federal government may be responsible for paying. The federal loan guarantee was for $535 million. It will not be until after Solyndra’s bankruptcy hearings, at which the government will be represented, that the exact responsibility of the government will be understood. What is known for sure is that this guarantee will put taxpayers on the hook for several million dollars.
Peter Thiel adds to the somber mood:
"Cleantech is an increasingly large disaster"