Clean energy woes continue as a U.S. solar-panel company retools in the face of Chinese competition, despite federal clean energy subsidies.
Abound Solar, a Colorado-based solar module maker, announced it was suspending work on its first-generation models and laying off about 180 workers as the company focuses on a more efficient product.
U.S. solar industry players have been facing stiff competition from companies in China, where the government spent more than $30 billion in 2010 to subsidize its solar industry, according to U.S. energy officials.
Abound Solar received a $400 million loan guarantee from the federal government as part of a stimulus package for clean energy in 2010 but has drawn less than $70 million, according to the U.S. Energy Department.
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Source: The Christian Science Monitor