Many of the problems that forced solar company Solyndra to shutter operations threaten other businesses in the sun-power industry, with more upheaval likely in the coming months, analysts say.
The bankruptcy last month of Fremont, Calif.-based Solyndra comes as solar manufacturing undergoes a major transition. Prices of solar panels have plummeted, causing a supply glut and slicing company revenues.
Solyndra’s collapse marked the third time in as many weeks that a solar company declared bankruptcy. Evergreen Solar Inc. of Massachusetts and SpectraWatt of New York also filed for protection.
“It coincides with the fact that the industry is in trouble,” said Ken Zweibel, director of the Solar Institute at George Washington University. “There is a crisis in the solar manufacturing world there’s no question about it. With three companies declaring bankruptcy in three weeks, there’s no question that they’re all under pressure….”
Read More: Solyndra Bankruptcy Reveals Dark Clouds in Solar Power Industry via The New York Times