Stirling Energy Systems files for bankruptcy

Another one hits the dust..

http://online.wsj.com/article/BT-CO-20110929-716222.html" onclick="window.open(this.href);return false;

"Solar-power equipment manufacturer Stirling Energy Systems Inc. has filed for bankruptcy, adding to a wave of troubles in the solar industry amid soft demand, falling prices and difficulty raising money."



https://share.sandia.gov/news/resources/releases/2008/solargrid.html" onclick="window.open(this.href);return false;

:?

Hello,
Talking with my banker buddy, he explained what he sees as the local trend. His business loan department has seen a 40% increase in non-profit loans, something that never would have happened 10 years ago. Because of the stimulus money they are springing up everywhere. Take Solar systems for example. They can get me federal money for the install (as well as a tax break) and they use low cost cells from non-profit or stimulus funded manufacturers to install on my house. End result is almost no out of pocket expense for me. Who wouldn’t go for that? All this federal money flushes through these types of businesses at 49% / 51% and they don’t pay taxes. The intent of the stimulus is to create jobs but the non-profs are in the market with for profit businesses who can’t possibly compete, hence the for-profit solar cell manufacturer going bankrupt in California. So as the bank sees it, the non-profit business has low cost suppliers, pays no taxes and stable funding. The for-profit businesses are tentative in an uncertain economy. So you know who gets the loans. It’s government spending of our stimulus money in self-defeating ways at the taxpayers expense for short-term jobs numbers (political sway). Looks like these guys might be another victim of the same policies.