Despite Ch. 11 Woes, Sun Still Shines On US Solar

Law360, New York (September 13, 2011, 1:32 PM EDT) -- August saw a surge in bankruptcies among U.S. solar panel manufacturers, but the failures are not an epitaph for the U.S. industry, just the reflection of a new phase where viable companies must contend with prevalent, affordable and efficient Chinese panels, according to attorneys.

On Tuesday, Solyndra LLC, recipient of a $535 million loan guarantee from the U.S. government, became the latest casualty of the shakeout, filing for bankruptcy protection with roughly $780 million in debt. Just days earlier, SpectraWatt Inc. and Evergreen Solar Inc. both tumbled into Chapter 11, unable to compete with Chinese manufacturers.

The grim numbers, however, point...

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