Abound Solar blames Chinese subsidies for bankruptcy
The collapse of Abound and the high-profile bankruptcy of Solyndra, another solar panel maker that also received a government loan guarantee, have provided rich fodder for Republicans on the campaign trail attacking the Obama administration's energy policies.
Abound Solar filed for bankruptcy earlier this month, succumbing to intense competition from China that has sharply driven down the cost of solar panels, said Thomas Tiller, who served as Abound's chairman.
Tiller said the Chinese government provided about $35 billion in subsidies to Chinese solar companies, resulting in sharp growth in production capacity that outpaced demand and pushed down the price for panels by more than 50 percent in just a year.
More breaking news...
Coda's bankruptcy hampers UQM's year
The first bill, HB 13-1292, sponsored by Rep. Pete Lee (D-Colorado Springs) and Rep. Dan Pabon (D-Denver), requires state agencies to weigh "best
State launches innovation challenge
Revenue for the fourth quarter decreased
Start-ups in seven targeted industries are sought. The industries are: