The answer to this question is complicated, and it really depends on how you define “renewable energy systems.” If you include all forms of renewable energy, such as solar, wind, and biomass, then the answer is zero. However, if you only consider solar energy systems, then the answer is four.
The first solar energy company to declare bankruptcy was Solyndra, which filed for Chapter 11 bankruptcy in 2011. Solyndra was a high-profile example of the failure of the solar energy industry to live up to its promises.
The second solar company to declare bankruptcy was Sun Edison, which filed for Chapter 11 bankruptcy in 2016. Sun Edison was a much larger company than Solyndra, and its bankruptcy was a much bigger blow to the solar industry.
The third solar company to declare bankruptcy was Sungevity, which filed for Chapter 11 bankruptcy in 2017. Sungevity was a smaller company than Sun Edison, but its bankruptcy was still a significant setback for the solar industry.
The fourth and most recent solar company to declare bankruptcy is GTM Research, which filed for Chapter 11 bankruptcy in 2018. GTM Research is a market research firm that specializes in the solar industry, so its bankruptcy is a sign that the solar industry is in serious trouble.
Other related questions:
Q: How many solar companies have failed?
A: In the United States, there is no official count of how many solar companies have failed. However, industry experts estimate that between 2009 and 2014, approximately 100 solar companies went out of business. This number includes both small businesses and large corporations. The reasons for these failures vary, but common factors include inadequate financing, poor management, and shifting market conditions.
Q: How much money did Solyndra get from the US government?
A: Solyndra received a $535 million loan guarantee from the U.S. Department of Energy in 2009.
Q: What did Obama do for renewable energy?
A: In his first year in office, President Obama took significant steps to advance renewable energy and increase energy efficiency. The President signed into law the American Recovery and Reinvestment Act, which included investments in renewable energy and energy efficiency. The Recovery Act jumpstarted the renewable energy industry, creating jobs and spurring billions of dollars in private investment.
The President also issued executive orders to accelerate the development of renewable energy on public lands and to establish the first-ever national goal for increasing the use of renewable energy. In addition, the President launched the Better Buildings Initiative, a program to make commercial buildings more energy efficient, and announced new fuel economy standards that will nearly double the fuel efficiency of cars and trucks by 2025.
Bibliography
- Obama’s alternative energy bankruptcies – CNN Business
- U.S. solar power plant backed by over $700 million … – Reuters
- Remembering “Solyndra” – How Many $570M Green Energy …
- U.S. Solar Companies Continue to Struggle – Davis Law Firm
- Obama’s Green Energy Failure List – John Locke Foundation
- Third energy firm declares bankruptcy in Texas snow storm …
- Key Facts: Solyndra Solar | Department of Energy