When Solyndra went bankrupt and cost taxpayers up to $530 million, the Obama administration’s green energy loan program was subjected to congressional hearings and became an election-year issue. Now, another solar panel company may be headed for a similar fate.
SoloPower, which makes thin-film solar panels at a new plant in Portland, Ore., opened Sept. 27 with an upbeat ribbon-cutting ceremony. Local and state politicians gushed about the company eventually operating four production lines and creating 450 well-paid green jobs.
Just a few months later, those predictions, and SoloPower’s future, are on shaky ground.