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Why Elon Musk Is Doubling Down on Solar Power

Why Elon Musk Is Doubling Down on Solar Power
Photograph by Patrick T. Fallon/Bloomberg

Making solar panels is a huge mistake. That’s been the big story of the solar industry over the past few years.

A glut of solar panel makers flooded the market with their products, forcing prices of solar panels down to crippling levels. The biggest culprit in all of this was China, which twisted the economics of solar panels through its backing of a multitude of firms. Some solar panel makers have muddled along through the dark times, while others such as China’s onetime giant Suntech Power been left trying to placate furious investors and navigate bankruptcy.