Solar energy company blames China for bankruptcy

July 21, 2012 by  
Filed under Solar Energy Tips


DENVER (AP) – Abound Solar is blaming Chinese companies for causing it to declare bankruptcy.

Former executives of the Loveland-based company testified before Congress on Wednesday that Chinese companies sold solar panels under cost and they couldn’t compete.

The company received a $400 million loan guarantee from the federal government before it filed for bankruptcy July 2.

According to the Denver Post (http://bit.ly/NzUWNo), Abound has been compared to Solyndra, a California panel maker that went bankrupt last year after spending its $535 million loan guarantee.

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Information from: The Denver Post, http://www.denverpost.com

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