solar panel maker abound quits amid chinese competition

by:Tunto     2020-04-05
Abound said it would suspend all operations and cut 125 jobs.
On February, the company announced that it had to close the factory in order to produce more efficient products.
The heavily produced panels use cadmium to generate electricity directly from the sun, which is cheaper than the commonly used silicon batteries.
The decline in silicon battery prices has eliminated this advantage.
In addition, \"aggressive pricing by Chinese solar panel companies has made early start-up very difficult --
\"Under current market conditions, companies like this have a lot of opportunities to scale up,\" the company said in a statement . \".
Earlier this year, US solar panel makers, led by SolarWorld, asked the government to raise import tariffs on Chinese-made solar panels to limit the presence of Chinese companies in the market.
Abound also said it supported the measures, but it was too little and too late for the company.
The failure of Abound happened after another high-level crash last year.
Solar panel maker Solyndra also received $0. 528 billion from the government.
Solyndra laid off 1,100 workers and was met by F. B. I.
Search for an agent suspected of fraud evidence. The U. S.
The price of solar panels has dropped by more than 50% over the past year, while China-
The price of solar cells soared to $3 from $0. 639 billion in 2009.
According to U. S. Data, 1 billion in 2011S.
Ministry of Commerce.
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