March 29, 2010

BP closes solar plant in Maryland

BP Solar layoff.jpgBP might be investing left and right in wind farms in the US but when it comes to solar cell and wafer manufacturing, the wind has gone out of this business' sail because of material pricing woes.

BP announced last week that it will shutdown its solar manufacturing facility in Frederick, Maryland, and sad as it may be, this move makes financial sense given the fact that more cheaper materials are being manufactured in places such as China and even India.

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