Abound Solar was doomed by Chinese subsidies that helped flood the market with solar panels, former company executives said on Wednesday as Republicans at a congressional hearing delved into the latest failure of a government-backed solar panel manufacturer.

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.
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