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Lights Out for Solar?

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  • Description

    FBN's Peter Barnes weighs in on solar company bankruptcies.

  • Duration 1:43
  • Date

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-- while it's been a rough week for solar companies -- judge confirming cylinders bankruptcy plan earlier today despite protests from the government which statements to lose about half a billion dollars invested in that company.

So this comes after two more companies subsidized by the energy department of our government -- for bankruptcy protection last week.

-- -- and such date from Washington Peter.

Try -- lawyers sat -- is one of those companies it's based in Boston it's just the latest to go bust of the list includes the infamous Solyndra as you mentioned which left taxpayers on the hook.

For 50028.

Million in federal loan guarantees.

Sat -- had been approved for three million dollars and Energy Department grants.

But had gotten only about 200000 of that cash.

The solar industry is undergoing a major shakeout and consolidation.

And it may barely survive in the US even to -- Government help -- were brutalized in recent years by falling prices.

Over supply and competition from China which continues to invest heavily on solar.

The global solar market can't support 600.

-- solar module manufacturers today and so what you're going to see -- companies' side in Europe and the US and China and other places who can't compete.

Go out of business.

-- green tech research firm GTM research sees another 180.

Solar panel companies alone going out of business or being acquired by 2015.

27 of them in the USG GM says the shakeout could shut down all US solar cell and manufacturing facilities.

By the end of next year -- How important energy story to stand topic Peter front thank you so much so president --

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