Solar sector ETFs witnessed losses as prices fell and sufferings of small manufacturers grew because of increased competition among industry participants, ETF Trends reports. The Guggenheim Solar ETF declined 33.7 percent year to date and the Market Vectors Solar Energy fell 38.5 percent.
Maker of thin-film solar cells Solyndra, which secured $535 million in federal loans and more than $700 million in venture capital financing, has filed for bankruptcy. Other manufacturers, such as Evergreen Solar and SpectraWatt, are similarly in trouble. With capacity expansion, solar panel prices have fallen an average 25 percent.
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