Another solar panel company goes belly-up, as reported by the Oregonian:
SoloPower, the startup pitched as the most innovative player in Oregon solar manufacturing, will suspend its Portland operations in June and gut its remaining workforce.
It’s unclear whether production will ever start back up, or whether the state will recoup millions of dollars in incentives meant to fuel the company’s growth and create hundreds of well-paying jobs.
The development apparently came as a surprise Monday to the two state agencies charged with tracking its performance.
Solar industry analysts, though, have long anticipated its demise. They point to its rush to market — hurried along by eager government officials and private investors — with an expensive product that was only partly developed, and just as the solar market was tanking.