BP Solar ends U.S. production of solar panels
Posted by scapozzola on 03/29/2010
In 2007, BP Solar International received $7.5 million in funding from the U.S. Department of Energy (DOE) as part of an initiative to promote solar energy and reduce the nation's dependence on foreign energy.
Unfortunately, BP Solar is now closing its Frederick, Maryland factory and will no longer be manufacturing solar panels in the U.S. According to Reyad Fezzani, chief executive officer of BP’s solar unit, the move follows the shutdowns of three Spanish solar facilities and one Australian plant, with the company shifting production to joint ventures in China and India.
According to the Frederick News-Post, state and federal leaders tried to help BP Solar, but it wasn't enough to overcome market conditions:
Maryland's congressional delegation worked to secure about $11 million in federal stimulus tax credits for BP Solar last year. But even that was not enough, since the plan was for BP to invest about $22 million as part of the stimulus deal, said Delegate Sue Hecht, a Frederick Democrat who had advocated for the deal. "What they said last night was when they relooked (at) it, the market had changed so drastically that they just couldn't make it work," Hecht said. The company will no longer be receiving those credits.Read more.
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