Another Obama-Funded Solar Company Goes Belly Up – Given $13.3 Million in Tax Credits

Last Year Energy Conversion Devices moved 140 jobs from Michigan to Mexico to save money.

This week the Obama-funded solar company went belly up.
Energy Conversion Devices managed to blow $13.3 million in tax credits before filing for bankruptcy.
Reuters reported:

Lightweight solar product maker Energy Conversion Devices Inc filed for bankruptcy protection on Tuesday, the latest in a string of solar companies that have collapsed in an industry shakeout.

The company, whose filing follows years of losses and months of public discussions with bondholders, said it would sell its United Solar Ovonic unit and other assets in bankruptcy.

Energy Conversion, whose solar laminate products are used for panels on rooftops and buildings, said it would continue to operate during the sale process.

Of courseā€¦ Democrats praised the company as one of his solar success stories before they tanked.

Comments

As a privately owned web site, we reserve the right to edit or remove comments that contain spam, advertising, vulgarity, threats of violence, racism, anti-Semitism, or personal/abusive attacks on other users. The same applies to trolling, the use of multiple aliases, or just generally being a jerk. Enforcement of this policy is at the sole discretion of the site administrators and repeat offenders may be blocked or permanently banned without warning