Solyndra is bankrupt and closing down

Solyndra, the company which makes solar panels is bankrupt and closing down. It blamed over supply of solar panels, falling prices and tight credit and foreign competition for its problems. The company has cost taxpayers over $500 million; an investment the government hoped would create jobs and foster a clean energy future. Solyndra says it hopes to sell the company or license its technology as part of the bankruptcy process.

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Solyndra files for bankruptcy, lays off 1,100 workers