Solar panel maker Solyndra will close plant

NYTimes.com
Solyndra, a Silicon Valley solar-panel maker that won half a billion dollars in federal aid to build a state-of-the-art robotic factory, plans to announce on Wednesday that it will shut down an older plant and lay off workers. (...) Mr. Harrison [Solyndra’s chief executive] noted that the market had undergone a significant shift since Solyndra filed for the stock offering, with solar module prices plummeting as low-cost Chinese manufacturers like Suntech and Yingli ramped up production. That has put pressure on companies like Solyndra, which makes advanced thin-film solar modules that are less efficient than conventional photovoltaic modules but had been cheaper to install until prices began to fall sharply last year.