"Abound Solar, a solar panel maker that received a $400 million loan guarantee from the federal government, announced on Thursday that it would file for bankruptcy amid plummeting prices and intense competition from Chinese manufacturers in the solar equipment market."
"The failure of Abound, which tapped about $68 million of the loan guarantee before the Energy Department cut off its credit last September, comes after the collapse last year of Solyndra, another high-tech solar panel maker that had received federal funds.
Republicans, including Mitt Romney, the presumptive Republican presidential nominee, seized on Solyndra’s failure as evidence that the Obama administration wa`s wasting taxpayer money by supporting clean energy companies."
Matthew L. Wald reports for the New York Times June 28, 2012.
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