Solyndra Suspends Operations to Evaluate Reorganization Options
FREMONT, Calif., August 31, 2011 – Solyndra LLC, the American manufacturer of innovative cylindrical solar systems for commercial rooftops today announced that global economic and solar industry market conditions have forced the Company to suspend its manufacturing operations. Solyndra intends to file a petition for relief under Chapter 11 of the U.S. Bankruptcy Code while it evaluates options, including a sale of the business and licensing of its advanced CIGS technology and manufacturing expertise. As a result of the suspension of operations approximately 1,100 full-time and temporary employees are being laid off effective immediately.
Despite strong growth in the first half of 2011 and traction in North America with a number of orders for very large commercial rooftops, Solyndra could not achieve full-scale operations rapidly enough to compete in the near term with the resources of larger foreign manufacturers. This competitive challenge was exacerbated by a global oversupply of solar panels and a severe compression of prices that in part resulted from uncertainty in governmental incentive programs in Europe and the decline in credit markets that finance solar systems.
“We are incredibly proud of our employees, and we would like to thank our investors, channel partners, customers and suppliers, for the years of support that allowed us to bring our innovative technology to market. Distributed rooftop solar power makes sense, and our customers clearly recognize the advantages of Solyndra systems,” said Solyndra’s president and CEO, Brian Harrison. “Regulatory and policy uncertainties in recent months created significant near-term excess supply and price erosion. Raising incremental capital in this environment was not possible. This was an unexpected outcome and is most unfortunate.”
Customers who have implemented Solyndra solutions can be assured that their systems will generate economical, clean, solar power for decades.
Contact: Dave Miller, Director Corporate Communications (510) 440-2979.
Filed under California, California Green Jobs, Climate Alarmism, Climate Change, Climate Disruption, Climate Modeling, Climategate, CO2, Co2 Insanity, Financial, Global Warming, Government, Green Energy, Green Tech, Politics, Renewable Energy
Well, it seems more computer models need to be flushed down the toilet. According to this item from Forbes via Yahoo News……..
NASA satellite data from the years 2000 through 2011 show the Earth’s atmosphere is allowing far more heat to be released into space than alarmist computer models have predicted, reports a new study in the peer-reviewed science journal Remote Sensing. The study indicates far less future global warming will occur than United Nations computer models have predicted, and supports prior studies indicating increases in atmospheric carbon dioxidetrap far less heat than alarmists have claimed.
Study co-author Dr. Roy Spencer, a principal research scientist at the University of Alabama in Huntsville and U.S. Science Team Leader for the Advanced Microwave Scanning Radiometer flying on NASA’s Aqua satellite, reports that real-world data from NASA’s Terra satellite contradict multiple assumptions fed into alarmist computer models.
Gee, I wonder what people like Rajendra Pachauri, James Hansen, et al, have to say about this? They’ll probably either hide out or come up with newer and better BS to baffle us all with. Contrary to warmer BS those CO2 molecules evidently do not radiate heat back to Earth in some magic focused one-way back to Earth beam.
Back to the thermodynamics law that heat flows to cold. Read the whole article at the source below.
Source: Forbes via Yahoo News
Filed under Climate Alarmism, Climate Change, Climate Disruption, Climate Modeling, Climategate, CO2, Co2 Insanity, Global Warming, Government, NASA, Radiation
I received the above comment tweeted by Steven Oracle this morning:
GCMs and other climate models require the same disclaimer as stock brokers: “Past performance is not a guarantee of future accuracy.”
This really piqued by curiosity, so I followed the link to Steven’s website ‘Synthetic Information’ and started reading.
If you want a good primer on what actually goes on with modeling, then this is the place to go. It gives a lengthy but excellent explanation on modeling and moreover, it explains how it is misused as global warming propaganda.
You can read all about it at the source below.
Source: Synthetic Information