Is it too much to ask that the United States get through a few months without another massively government-subsidized solar energy company going belly-up?
Forget the half-billion-dollar boondoggle at now-defunct solar panel maker Solyndra. That’s so last year.
Now it’s a Loveland, Colo., concern by the name of Abound Solar that has said it will be filing for bankruptcy and closing shop.
Abound used up nearly $70 million of its $400 million federal loan guarantee before the rather less-than-vigilant U.S. Department of Energy cut off the gravy supply a few months back.
Now, Abound plans to lay off its 125 workers — an interesting turn of events in light of the fact that Energy Department loan guarantees were, in the words of The New York Times, “intended to stimulate employment … .”