Chinese Competition Sank Govt-backed Abound Solar-Executives

Reuters

WASHINGTON, July 18 (Reuters) – Abound Solar was doomed by Chinese subsidies that helped flood the market with solar panels, former company executives said on Wednesday as Republicans delved into the latest failure of a government-backed solar panel manufacturer.

The collapse of Abound and the high-profile bankruptcy of Solyndra, another solar panel maker that also received a government loan guarantee, have provided rich fodder for Republicans on the campaign trail attacking the Obama administration’s energy policies.

Abound Solar filed for bankruptcy earlier this month, succumbing to intense competition from China that has sharply driven down the cost of solar panels, said Thomas Tiller, who served as Abound’s chairman.