WASHINGTON, D.C. - Solar Energy Industries Association® (SEIA®) President and CEO Rhone Resch released the following statement in reaction to today's announcement that solar manufacturer Abound Solar is suspending operations and filing for bankruptcy protection:
"Despite today's news from Abound Solar, it is important to look at the health of the solar industry – 5,600 companies strong – more broadly.
"Solar is one of the fastest growing industries in the United States, employing more than 100,000 Americans across all fifty states. In fact, a report released just two weeks ago shows the U.S. solar market grew 85 percent in the last year.
"As did other high-tech industries, such as telecom and Internet, solar manufacturing is experiencing a period of intense competition that will see winners emerge who offer consumers the most competitively-priced products through innovation.
"Competition in the solar industry is good for Americans. Quarter after quarter, prices continues to fall, making solar an increasingly affordable resource to power American homes and businesses. Within two years, the U.S. is projected to become one of the top solar markets in the world."
Established in 1974, the Solar Energy Industries Association® is the national trade association of the U.S. solar energy industry. Through advocacy and education, SEIA is working to build a strong solar industry to power America. As the voice of the industry, SEIA works with its 1,000 member companies to make solar a mainstream and significant energy source by expanding markets, removing market barriers, strengthening the industry and educating the public on the benefits of solar energy. www.seia.org