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Keyword: govtsubsidies

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  • Solar Company Gets $25 Million In Taxpayer Subsidies, Goes Bankrupt

    04/21/2017 8:56:30 AM PDT · by rktman · 30 replies
    dailycaller.com ^ | 4/20/2017 | Andrew Follet
    Solar company Suniva Inc. filed for bankruptcy Wednesday after receiving millions in government subsidies to manufacture solar panels. Suniva blamed its bankruptcy on competition from cheap Chinese-made solar panels, but the company received about $20 million in support from federal and state taxpayers, according to the Atlanta Journal-Constitution. “For many years, Chinese manufacturers of solar cells have benefited from favorable, state-sponsored financing and lower labor costs, allowing them to flood the United States market for solar cells and modules with cheap imports,” David Baker, the company’s restructuring officer, said in a statement. “This has negatively impacted manufacturers based in the...