Abound Failure Raises Questions Anew About Obama Solar Policies
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The failure of a second solar manufacturer that received loan guarantees from the U.S. Energy Department adds to pressure on President Barack Obama to justify incentives for the clean-energy industry that’s being undercut by Chinese competition.
Abound Solar Inc., a U.S. solar manufacturer that was awarded a $400 million loan guarantee in 2010, said yesterday it will suspend operations and file for bankruptcy next week.