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Solar Panel Glut Costing YOU $535 Million

Maybe we could grind up all these excess solar panels and pave the roads with them.


From Reuters:

Solyndra LLC, a solar panel maker that received $535 million in federal loan guarantees, filed for bankruptcy, the third U.S. solar firm to succumb to pressure from Chinese rivals in recent weeks.

Solyndra, which also received more than $700 million in venture capital funding, said it will try to find a buyer quickly to avoid a firesale liquidation.

The solar industry has been in turmoil this year as a glut of panels has sent prices plummeting 25 percent. Manufacturing capacity expanded just as government austerity measures in Europe eliminated subsidies and undercut demand.


I recall a certain blogger in Belmar wrote an article about the solar energy bubble some time ago.  I guess Obama never read it.

And just to put things in perspective; if you took $535 million in one dollar bills, bundled them and threw them in a furnace, you would produce more energy than all of Solyndra’s solar panels ever produced.


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