Yet another alternative energy company financed by taxpayer subsidies has gone out of business, leaving taxpayers on the hook for millions of dollars. Abound Solar, which specialized in high-tech solar panels, benefited from a $400 million dollar federal loan guarantee but announced on June 28 it would be filing for bankruptcy. The Department of Energy cut off the guarantee at $68 million last September, roughly the same time solar equipment manufacturer Solyndra went under in another high-profile bankruptcy.
Can’t Compete with Chinese
Abound Solar planned to produce solar panels using the chemical cadmium telluride, which the company claimed would be less expensive than competing crystalline silicon technology. Neverth