Germany’s last surviving manufacturer of solar equipment, Bonn-based Solarworld has officially declared it will file for insolvency after six years of red ink.
Thousands of workers who banked their futures on solar jobs now face uncertain futures. Solarworld’s demise is the last in a spectacular series of solar manufacturer bankruptcies that swept across Germany over the past years, with names like Solon, Solar Millenium and Q-Cells going under.
According to Finanzen.net here, Solarworld had over 3000 employees on the payroll at the end of 2016.
In the early 2000s leaders and green energy proponents promised to turn parts of former communist East Germany into a “Solar Valley” that would boast secure, high paying hightech jobs. Today it’s a solar rustbelt with a ruined landscape of shattered visions and dreams. Spiegel calls it a “valley of tears”.
The problem is Chinese manufacturing, they manufacture solar equipment so cheaply that others cannot compete…
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