IBD: Obama’s Solar Failures ‘Abound’

“Another stimulus-backed solar panel maker, one the president touted in a weekly radio address, lays off most of its workers. The definition of insanity is doing the same thing and expecting a different result.”

Investor’s Business Daily editorializes:

… The latest casualty is Abound Solar Manufacturing. The Longmont, Colo.-based recipient of a $400 million federal loan guarantee to expand solar panel production said Tuesday it is laying off 280 workers and delaying a new factory in Indiana. That amounts to a 70% reduction in its workforce.

The company says it’s merely restructuring. “We are facing tough market conditions and falling prices,” said Steve Abely, Abound’s chief financial officer, in remarks eerily reminiscent of Solyndra’s last will and financial testament.

Lost in the tap-dancing verbiage is the simple fact that solar power is not financially competitive without subsidies like Abound and Solyndra have received…

Read the entire editorial.

2 thoughts on “IBD: Obama’s Solar Failures ‘Abound’”

  1. IF we stopped all the “”CHEAP” Solar imports we wouldn’t be having such layoff’s and our solar business would be booming. Can’t compete with Cheap…IN USA…it’s Cheap..not quality…as evident by Wal mart putting mom and pop small town business…..out on the streets.

  2. “…our solar business would be booming.” = LOL

    The excuse is competition from Cheaper foreign solar, but the fact is solar remains a loser, and has always been a loser. I haven’t noticed any explosion of solar usage? have you? These solar outfits only hope was a never ending flow of government subsidization. They can’t exist otherwise. These companies probably served their purpose, which was to reap immediate wind-fall profits for their ownership before they were busted out to leave the tax-payer holding the bag.

    Ma & Pa stores sold goods with superior quality than Walmart? Got any examples? Your post was interesting. It was an apology for solar’s uselessness mixed a tinge of Walmart hate and an even a little America bashing as a chaser.

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