In anticipation of tomorrow’s House Oversight and Government Reform Subcommittee on Regulatory Affairs hearing on the bankruptcy of Abound Solar, Rhone Resch, President and CEO of the Solar Energy Industries Association® (SEIA®), issued the following statement:

“The closure of any American factory is troubling. However, it is important to remember that the U.S. solar industry is a bright spot in an otherwise sluggish economy.

“Over 100,000 Americans have jobs in solar, more than double the amount from two years ago.  Costs of solar products to consumers continue to drop, while the deployment of solar systems across the U.S. increased by 85 percent over the last year.

“Today, as a result of the DOE’s Loan Guarantee Program, thousands of construction workers are building or operating 11 utility-scale solar projects with guaranteed revenue streams that will generate enough energy to power more than 630,000 homes.

“We hope as the subcommittee conducts its oversight, they take an even-handed approach and do not kill a program that is delivering results – world-renowned utility-scale solar projects, thousands of American construction jobs, and hundreds of megawatts of clean, renewable power.

“America invented solar technology, and I have every conviction that our companies can and will continue to thrive in the global marketplace. It would be short-sighted to cede this ground to our competitors in Asia and Europe and let a $10 billion, high-tech industry slip away as the U.S. did with flat screen televisions. Let’s keep the leadership, the jobs, and the industry here in America.

“The solar industry looks forward to working with Congress and the Administration to consider ways to improve the competitiveness of American manufacturers, starting with a robust Loan Guarantee Program.”