Massachusetts-based Evergreen Solar files for bankruptcy

Posted on Wednesday, August 17th 2011 at 7:25 p.m.

Evergreen Solar, the company given $50 million by the Commonwealth of Massachusets to build a factory in Devens, MA, filed for bankruptcy on Monday.  The company’s failure has given the politicians who backed it a black eye.  The bankruptcy is blamed on the decreasing prices for the manufacture of the current generation of solar cells, a crowded manufacturing field, and failure by Evergreen to adjust to changing market conditions.  It’s a shame that the company’s management failed to properly run the business - it would be nice to have a solar-manufacturing powerhouse in our back yard.

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