Solar firm that got DOE loan to declare bankruptcy
WASHINGTON – A Colorado-based solar panel maker that received a $400 million loan guarantee from the Obama administration said Thursday it will file for bankruptcy, the latest setback for an industry battered by the recession and stiff competition from companies in China.
Abound Solar of Loveland, Colo., said it will suspend operations next week, after talks with potential buyers broke down. The company received about $70 million from the Energy Department before officials froze its credit line last year.Yep. Yet another one of Obama's pet green projects just folded. Yawn. That's not the interesting part. The interesting part was here:
Abound said it supports a recent decision by the Commerce Department imposing stiff tariffs on Chinese imports, but said, "this action is unfortunately too late for the company."Emphasis mine. You see, it was never about saving the environment - if it was, why would the US government be hitting Chinese companies with high tariffs to discourage inexpensive solar panels? Isn't that interesting? While the drumbeat about ZOMG GLOBAL WARMING marches on, the US Government is putting roadblocks in the way of affordable solar panels.
Just *imagine* the uproar if George Bush had done that...
That is all.
Another dispatch from...
(image courtesy of Robb Allen)