December 29, 2011

Beyond Solar: BP exits business

It has been more than a year when the green blog reported about the closing of BP Solar's manufacturing facility in Maryland, US. According to several news reports last week, BP finally admitted that it can't handle the solar market and told its staff of 100 employees worldwide that it will fold its solar business after  being in the market for 40 years.

According to Financial Times, BP Solar CEO Mike Petrucci wrote an internal email to staff last week explaining that it had finally realized it can't many anymore money from solar given the rapidly expanding low-cost solar panel manufacture in China.

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