The federal government is making another big bet on solar panel manufacturing with taxpayer money, hoping the third time will be the charm.
SoloPower held its grand opening Thursday in Portland, Ore., with speeches from local politicians and a ribbon-cutting. “It really revolutionizes rooftop applications, and it makes solar both easy and cost effective for nearly any commercial and industrial building worldwide,” CEO Tim Harris said.
SoloPower closed on a guaranteed government loan of $197 million last August, about the time another solar panel manufacturer, Solyndra, filed for bankruptcy. The failure of Solyndra cost U.S. taxpayers more than a half-billion dollars.