Bankrupt solar module manufacturer Abound Solar, recipient of a Department of Energy loan guarantee of $400 million, and the subject of an official investigation in its home state of Colorado, now faces additional scrutiny in the form of a document probe from the House Energy and Commerce Committee. The letter …
Bankrupt DOE Loan Recipient Abound Solar Under Investigation, Panels Suffered “Catastrophic Failure”
Abound Solar, a Department of Energy $400 million loan guarantee recipient that went bankrupt earlier this year, is under investigation by officials in Weld County, Colorado. The company, which received nearly $70 million in loan funding before payments were cut off by DOE in 2011, also received a $100,000 tax …
The U.S. Department of Energy this week touted the growth of solar power, complete with an impressive chart that boasts, “Solar Generation Has a Bright Future.” Yet a closer look at solar’s overall role reveals that it represented just 0.14 percent of the total electric power generated and consumed in June. The …
Abound Solar’s June bankruptcy could leave the residents of Weld County, CO, on the hook if court proceedings do not deliver the projected business personal property tax receipts anticipated before the company’s demise. The Greeley Tribune reports: Abound owes more than $950,000 in property taxes this year and will owe …
One of Abound Solar’s venture capital investors blamed election-year political games for the collapse of the Colorado-based thin film solar panel manufacturer, according to a new interview. John Hill, discussing the demise of a company and technology he invested in both financially and emotionally, acknowledged that the company’s troubles could …
Amonix, the solar panel manufacturer whose Las Vegas plant ceased operations in May, managed to secure millions in federal grants and potential tax breaks even though its product had quality problems and was never really economically viable, according to sources. The politically connected company had the backing of Senate Majority …
At a Friday visit to the Golden, Colorado, campus of the National Renewable Energy Laboratory, Interior Secretary Ken Salazar characterized the bankruptcies and delays that have plagued the solar manufacturing sector as “just minor (and expected) blips for the industry.” Salazar told Denver’s alt-weekly Westword, “Any time you’re dealing with an …
