Abound Solar Finances Under Investigation

DOE-loan recipient filed for bankruptcy in June.



The finances of a solar company that received $68 million in federal stimulus money are now under investigation in Colorado, reports ABC Denver:

7NEWS obtained internal documents from 2012 that show orders for tens of thousands of replacement solar panels. The orders cite different reasons for the replacements including, “low performance,” “under performance” and “catastrophic failures.”
The orders are for replacements requested after the Department of Energy stopped stimulus money payments to Abound. [...]
The county is seeking nearly $1 million in unpaid 2011 property taxes from Abound and more than $800,000 in unpaid property taxes from 2012.

The company, which was originally awarded $400 million in federal loan guarantees, filed for bankruptcy in June.