In 2011, Massachusetts based Evergreen Solar moved all of its production to China.
These price cuts led to some nasty financial results for the publicly-traded Evergreen Solar.
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U.S. companies such as Solyndra, Evergreen Solar, Energy Conversion Devices and SpectraWatt went bankrupt.
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As it is, Massachusetts-based solar panel maker Evergreen Solar moved its manufacturing to China in 2011.
First Solar, SunPower, and Evergreen Solar, all ended the day with modest gains of 1.4%, 1.1%, and 1.4%.
But photovoltaics vendor Evergreen Solar (nasdaq: ESLR - news - people ) is up fivefold since 2003.
Evergreen Solar shares are down more than 60% Monday after the company filed a Chapter 11 bankruptcy in federal court in Delaware.
Meanwhile, U.S.-based companies were mixed, as Energy Conversion Devices increased 2.6%, SunPower gained 1.4%, though First Solar slipped 0.2% and Evergreen Solar fell 1.7%.
On Monday, Evergreen Solar shares rose 6 cents, to 61 cents.
Evergreen Solar expects to report its Q1 results in early May.
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Evergreen Solar warned in an SEC filing that current common shareholders could get completely wiped out as the company attempts to restructure its balance sheet.
Can the same be said for Solyndra, Evergreen Solar, and SpectraWatt, once providers of 25% of American solar photovoltaic output and now on the bankruptcy scrap heap?
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Evergreen Solar opened in 1994 and was able to secure financing from a variety of sources including the government and companies and venture capitalists from around the world.
But photovoltaics vendor Evergreen Solar is up fivefold since 2003.
Dozens of solar manufacturers worldwide have filed for bankruptcy in the past two years, including U.S. companies such as Solyndra, Abound Solar, Evergreen Solar, Energy Conversion Devices and Konarka Technologies.
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Take the Evergreen Solar Company as another example.
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That leap of reason gave solar stocks an even greater bounce than their oil counterparts as companies like SunPower, First Solar, Evergreen Solar, Trina Solar, and Canadian Solar, gained 6.1%, 4.0%, 7.8%, 7.1%, and 17.2%, respectively.
Evergreen Solar is in big, fat trouble.
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In addition to a debt burden, Evergreen Solar suffered from falling PV prices caused by a mix of (i) reduced demand, in part attributable to subsidy reductions in Europe, and (ii) industry overcapacity, including growing capacity from Chinese manufacturers.
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Only instead of tax savings bolstering private-sector initiatives, it is government planners who are unleashed to spend more as they did for Evergreen Solar, Solyndra, SunPower, and Fisker Automotive, to name just a few.
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If there were economic advantages to investing in technology that depends on taxpayer support, companies like Beacon Power, Evergreen Solar, Solar Millenium, SpectraWatt, Solyndra, Ener1 and the Renewable Energy Development Corporation would be prospering instead of filing for bankruptcy in only the past few months.
Applications for Evergreen's solar cells and systems include highway call boxes, microwave stations, street and billboard lighting and off-grid rural electrification.
Other U.S. solar manufacturers who have not yet followed Evergreen to China will likely elect to do before long.
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"We estimate that the solar module market can maintain its 46 percent compound annual growth rate through 2012 and believe Evergreen is well positioned, given its expected annual module production, " Chin wrote.
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