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Rest in Peace: The List of Deceased Solar Companies The sad, inevitable results of the Venture Capital bubble and solar shakeout

By Eric Wesoff: April 6, 2013

We listed the more than 200 VC-funded solar startups back in 2008. We knew that we'd be writing about most of them on their way up -- as well as on their way down. Add one more solar company to the list of insolvent solar firms. It's one you may not have heard of: Concentrator Optics. The firm had received investment from Capricorn Venture Partners to build Fresnel lenses for the CPV market. Imagine approaching a VC firm with that pitch today. GTM Research forecasts 21 gigawatts of PV module manufacturing capacity coming offline by 2015 as the global market reconciles a dire supply- demand imbalance. (See PV Technology, Production and Cost Outlook: 2012-2016.) Capacity coming offline means less-efficient companies closing down. Of course there's another long list of relatively unknown Chinese companies closing down as well. Here's an incomplete list of the solar firms that have left the building -- either by closure, bankruptcy, or fire-sale acquisition:

2009 to 2010 - Bankrupt, closed, acquired

 Advent Solar (emitter wrap-through Si) acquired by Applied Materials  Applied Solar (solar roofing) acquired by Quercus Trust  OptiSolar (a-Si on a grand scale) closed  Ready Solar (PV installation) acquired by SunEdison  Solasta (nano-coaxial solar) closed  SV Solar (low-concentration PV) closed  Senergen (depositing silane onto free-form metallurgical-grade Si substrates) closed  Signet Solar (a-Si) bankrupt  Sunfilm (a-Si) bankrupt  Wakonda (GaAs) closed

2011 - Bankrupt, closed  EPV Solar (a-Si) bankrupt  Evergreen (drawn Si) bankrupt  Solyndra (CIGS) bankrupt  SpectraWatt (c-Si) bankrupt  (dish engine) bankrupt

2011 - Acquisition, sale  (CIGS) acquired by TFG Radiant  Calyxo (CdTe) acquired by Solar Fields from Q.cells  HelioVolt (CIGS) acquired by Korea's SK Innovation  National Semiconductor Solar Magic (panel optimizers) exited systems business  NetCrystal (silicon on flexible substrate) acquired by Solar Semiconductor  Soliant (CPV) acquired by Emcore

2012 - Bankrupt, closed

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(CdTe) bankrupt  AQT (CIGS) closed  Ampulse (thin silicon) closed  Arise Technology (PV modules) bankrupt  Azuray (microinverters) closed  BP (c-Si panels) exits solar business  Centrotherm (PV manufacturing equipment) bankrupt  CSG (c-Si on glass) closed by Suntech  Day4 Energy (cell interconnects) delisted from TSX exchange  ECD (a-Si) bankrupt  Energy Innovations (CPV) bankrupt  Flexcell (a-Si roll-roll BIPV) closed  GlobalWatt (solar) closed  GreenVolts (CPV) closed  Global (CIGS) closed  G24i (DSCs) bankrupt in 2012, re-emerged as G24i Power with new investors  Hoku (polysilicon) shut down its Idaho polysilicon production facility  Inventux (a-Si) bankrupt  Konarka (OSCs) bankrupt  Odersun (CIGS) bankrupt  Pramac (a-Si panels built with equipment from Oerlikon) insolvent  Pairan (Germany inverters) insolvent  Ralos (developer) bankrupt  REC Wafer (c-Si) –Norway operation - bankrupt  Satcon (BoS) bankrupt  Schott (c-Si) exits c-Si business  Schuco (a-Si) shutting down its a-Si business  Sencera (a-Si) closed  Siliken (c-Si modules) closed  (LCPV) closed  Siemens (CSP, inverters, BOS) divestment from solar  Solar Millennium (developer) insolvent  Solarhybrid (developer) insolvent  Sovello (Q.cells, Evergreen, REC JV) bankrupt  SolarDay (c-Si modules) insolvent  Industries (PV modules) bankrupt  Soltecture (CIGS BIPV) bankrupt  Sun Concept (developer) bankrupt

2012 Acquisition, fire sale, restructuring  Oelmaier (Germany inverters) insolvent, bought by agricultural supplier Lehner Agrar  Q.Cells (c-Si) insolvent, acquired by South Korea's Hanwha  Solibro (CIGS) Q-Cells unit acquired by China's Hanergy  Solon (c-Si) acquired by UAE's Microsol

2012 Acquisition, fire sale, restructuring, …

 Scheuten Solar (BIPV) bankrupt, then acquired by Aikosolar  SolFocus (CPV) layoffs, restructuring for sale 2

 Sunways (c-Si, inverters) bought by LDK, restructuring to focus on BIPV and storage

2013, Bankrupt or leaving industry  Bosch Germany (c-Si PV module) to exit module business  Concentrator Optics (CPV) bankrupt  Suntech Wuxi (c-Si) insolvency/bankrupt proceedings

2013, Acquisition, sale, restructuring

 Diehl (Germany inverters) inverter division sold to PE firm mutares AG  ISET (CIGS) moving into "microsolar"  MiaSolé (CIGS) acquired by China's Hanergy  Nanosolar (CIGS) restructuring for sale  NuvoSun (CIGS) acquired by Dow  Twin Creeks (kerfless Si) acquired by GT Advanced Technology  Wuerth Solar (installer) business turned over to BayWa  Conergy Germany, restructuring

If we missed a firm, please, dear reader, let us know, and we'll amend the list.

Please see on the next six pages the solar companies in Australia which have left the industry.

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Company Date of Action Other Info 6Solar Oct-12 A Grade Solar Solutions Pty Ltd 1/05/2013 In Liquidation AAA Solar Pty Ltd Feb-13 Aero Sharp Australia Pty Ltd Oct-12 Aeronergy Solar Pty Ltd 24/04/2013 In Liquidation Agnew Electrics Apr-13 Air Solar Air-Solar Australia Pty Ltd 13/12/2012 In Liquidation All Solar Shop WA Oct-12 Alternative Energy Solutions Pty Ltd Nov-12 Ark Energy P/L Aspire Solar Pty Ltd 2/07/2013 Subject To A Deed Of Company Arrangement Aussie Solar Installations Pty Ltd 4/07/2013 In Liquidation Aussie Solar Pty Ltd 16/10/2012 In Liquidation Ausstar Commodity & Marketing Pty Limited 11/06/2013 In Liquidation Australasian Solar Energy Pty Ltd Dec-12 Australia Onesolar Aug-12 Australia Solar Energy Aug-12 Australian Insulation And Solar Oct-12 Australian Solar & Water Solutions Oct-11 Australian Solar Buying Group Pty Ltd (In 16/01/2013 In Liquidation Liquidation) Australian Solar Electrics Oct-12 Australian Solar Electrics Pty Ltd 23/11/2012 In Liquidation Australian Solar Network Oct-12 Australia's Most Wanted Solar Mar-12 Autumn Solar Installations Bamboo & Solar Direct Banksia Solar Pty Ltd Dec-12 Beat Bad Energy Apr-13 Bendigo Solar Shop Oct-12 Besmart Australia Trading As True Value Solar Aug-12 Cairns Best Solar Pty Ltd 24/04/2013 In Liquidation Beyond Building Energy (March 2012) Mar-12 Bi-Rite Solar & Electrical Pty Ltd 30/05/2013 In Liquidation Blue Himmel Solar Pty Ltd Oct-12 Blue Sun Energy Pty Ltd Apr-13 Budget Solar Systems Pty Ltd Feb-13 Cash Carbon Sep-11 Central Queensland Solar and Insulation Aug-12 4

Company Date of Action/liquidation Other Info Clean Energy Enterprises Pty Ltd Oct-12 Cleaner Energy Clear Solar Coastal Solar Solutions P/L 24/01/2013 In Liquidation Community Solar Power Parks Australia Pty Ltd Nov-12 Cool Or Cosy Intelligent Solar Oct-12 CS001 PTY LTD 20/03/2013 In Liquidation D C F X Solar Systems Pty Ltd 30/11/2012 In Liquidation DCM DIY Home Solar Pty. Ltd. 21/07/2013 In Liquidation Do My Solar Pty Limited 9/05/2013 In Liquidation Do My Solar Vic Pty Ltd Feb-13 Earth Wise Energy Aug-12 Eco Energy Solutions Australia Pty Ltd Apr-13 Ecoassist Oct-11 Ecotek Energy Solutions Dec-12 Elecitrcal and Solar Solutions Jun-12 Elite Solar Pty Ltd 11/06/2013 Winding Up Order Emissionless Energy Pty. Ltd Dec-12 Energy Eco Australia Pty Ltd Aug-12 Energy Eco Korumburra Pty Ltd Aug-12 Energy From Sky Pty Ltd Nov-12 Envirocare And Savers Sep-11 Enviroenergy Dec-12 Envirofreindly Products Enviromate Pty Ltd Dec-12 Environmental Solar Pty Ltd 27/07/2012 Winding Up Order Environmnetal Solar Solutions Aug-12 EP Solar Pty Ltd 17/04/2013 In Liquidation Eviropoint Five Star Solar Jun-12 Flurosolar Aug-12 Free Energy Apr-13 Freetricity Jul-13 Future Wealth Solutions Pty Limited 11/04/2013 In Liquidation Genco Australia Pty Ltd Sep-12 Global Solar Solution Oct-12 Green Energy Company Pty Ltd Nov-12 Green Solar Advisors Oct-12 Green Solar Solutions Pty Ltd Mar-12 Green Solutions Victoria Oct-12

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Company Date of Action Other Info Green Spark Electrical and Solar Pty Ltd 17/07/2013 In Liquidation Green Tiger Energy Aug-12 Greenerenergy Aug-12 Greensolar GT Energy Technologies Jan-13 GT Solar Oct-12 Hollywood Corporation 2 Pty Limited 8/04/2013 In Liquidation HTS SOLAR PTY LTD 29/04/2013 In Liquidation Hybrid Solar Aug-12 Illumilite Pty. Ltd. 14/03/2013 In Liquidation Impressive Solar & Lighting Pty Ltd Dec-12 Inspire Solar (Greenhouse Express) Intelligent Solar Technology Apr-12 Ismart Energy Aug-12 Jamies 12V Shop Oct-12 Kings Of Green Solar Pty Ltd Dec-12 Kleenergy Pty Ltd Aug-12 Lizard Solar Pty Ltd Feb-13 Metalcraft Machinery Pty Ltd 22/01/2013 In Liquidation Metalcraft Solar & Insulation Pty Ltd 22/01/2013 In Liquidation Miami Engineering Pty Ltd 22/01/2013 In Liquidation Mobile Solar Pty. Ltd Nov-12 National Solar Solutions Aug-12 NECO Feb-12 NEPV SOLAR PTY LTD 6/11/2012 In Liquidation New South Solar Aug-12 NSW Solar Installations Pty Ltd Dec-12 NT Solar Australia Aug-12 Oetec Pty Ltd 23/11/2012 In Liquidation Operation Solar Australia Pty Limited 8/04/2013 In Liquidation Operation Solar Pty Ltd 11/07/2013 Winding Up Order Oz Solarpower Aug-12 Ozwater Oct-11 Ozy Solar Aug-12 Pacific Heating And Solar Pty Ltd 20/11/2012 In Liquidation PAK Solar Pty Ltd Dec-12 Paradise Avenue Investments Pty Ltd 22/01/2013 In Liquidation Paradise Avenue Properties Pty Ltd 22/01/2013 In Liquidation Paramount Solar Oct-12 Perpetual Solar Aug-12 Planet Shares P/L In Noosa

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Company Date Of Action Other Info Platinum Solar Australia Pty Ltd 19/04/2013 In Liquidation Platinum Solar CC Pty Ltd 4/03/2013 Winding Up Order Pod Solar Solutions Aug-12 Premier Solar (Queensland) Pty Ltd 22/03/2013 In Liquidation Premier Solar (SA) Pty Ltd 12/11/2012 In Liquidation Premier Solar (Vic) Pty Ltd Oct-12 Premier Solar Australia Pty Ltd 23/11/2012 In Liquidation Premier Solar Group Pty Ltd 17/10/2012 In Liquidation Premier Solar Logistics Pty Ltd Oct-12 Premier Solar Projects Pty Ltd 11/02/2013 Winding Up Order Premier Solar Shop Oct-12 Premium Solar Systems Oct-12 Pure Solar Pty Ltd (In Liquidation) 6/06/2013 In Liquidation Pure Solar Pty Ltd (In Liquidation) 16/11/2012 In Liquidation Queensland Solar Maintenance Oct-12 RDE Pty Ltd Mar-12 Holdings Aug-12 Renewable Energy Technologies Pty Ltd Apr-13 Right Solar Pty Ltd Feb-13 Rock Solar Pty Ltd 30/11/2012 Winding Up Order Simply Solar Sep-12 Sivicorp Solar Oct-12 Smart Power Technologies Mar-11 Solacore Apr-13 Solagex Australia Pty Ltd Oct-12 Solar 1 Pty Ltd 25/10/2012 In Liquidation Solar 3000 Pty Ltd Dec-12 Solar Action Pty Ltd 25/09/2012 In Liquidation Solar Array Pty Ltd Feb-13 Solar Art Aug-12 Solar Captain Pty Ltd Mar-13 Solar Connect Australia Pty Ltd Sep-12 Solar Corporation Apr-13 Solar Corporation Of Australia Pty Ltd 1/05/2013 Winding Up Order Solar Energy NSW Pty Ltd 11/03/2013 Winding Up Order Solar Free Pty Ltd 2/10/2012 Winding Up Order Solar Hot Water Saver Pty Ltd 31/07/2012 Winding Up Order Solar Installers Oct-12 Solar Institute Aug-12 Solar Mega Mart Jan-13 Solar One Pty Ltd Oct-12

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Company Date Of Action Other Info Solar One Stop Oct-12 Solar Powered Products Oct-12 Solar Rangers Aug-12 Solar Renewable Corporation Oct-12 Solar SA Pty Ltd 2/05/2013 In Liquidation Solar Set Pty Limited 12/07/2013 In Liquidation Solar Shop Australia Management Oct-12 Solar Shop Constructions Oct-12 Solar Sppin Pty Ltd Nov-12 Solar Supplies & Logistics Pty Ltd 17/10/2012 In Liquidation Solar Synergy Oct-12 Solar Village Pty Ltd 2/10/2012 Winding Up Order Solar Water Wind Pty Ltd 29/04/2013 Winding Up Order Solarassist Oct-11 Solarbroker Australia Pty Ltd 8/02/2013 In Liquidation Solarcare Nov-12 Solarco Albury Oct-12 Solarco Wagga Oct-12 Solardesigns Oct-12 Solareco Pty Ltd 13/11/2012 Winding Up Order Solarfree Oct-12 Solargen (Australia) Pty Ltd 8/04/2013 Winding Up Order Solargen Pty Ltd 2/08/2012 In Liquidation Solargen SA Oct-12 Solari Engineering (Properties) Pty Limited 19/07/2012 In Liquidation Solarplus Investments Aug-12 Solarsave (Nsw) Pty Limited 12/07/2013 In Liquidation Solarsave (Qld) Pty Limited 12/07/2013 In Liquidation Solarsave Pty Limited 27/11/2012 In Liquidation Solarsmith Aug-12 Solartec Industries Aug-12 Solartech Energy Aug-12 Solarya Pty Ltd (In Liquidation) 24/05/2013 In Liquidation Solenergy Pty Ltd Aug-12 Spectrum Solar Mar/ 12 Star 8 Solar Green Commercial Pty. Ltd. 19/10/2012 Winding Up Order Stuart Renewable Energy Aug-12 Stylemaster Solar Aug-12 Sun Connect Feb-13 Sunrise Solar Installers Pty Ltd 9/04/2013 In Liquidation Sunsavers 2011 6/2011

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Company Date Of Action Other Info Sunseeker Energy Australia Aug-12 Sydney Solar Eco Solutions Oct-12 Tech Energy Corp Pty Ltd May-13 Territory Solar Clean Pty Ltd Feb-13 The Solar Company Feb-13 The Solarshop NSW Oct-12 The Solarshop QLD Oct-12 The Solarshop SA Oct-12 The Solarshop VIC Oct-12 The Wood Stove And Solar Shop Oct-12 Top End Solar Aug-12 True Solar Pty Limited 11/06/2013 In Liquidation Unleash Solar Pty Ltd 15/04/2013 In Liquidation Upton Ecoforlife Solar Trackers Pty Ltd Feb-13 Urban Solar (Aust) Pty. Ltd. 17/07/2013 In Liquidation Vicon Solar Pty Ltd Mar/ 12 V-Solar Pty Ltd 26/02/2013 In Liquidation WA Solar Sales And Service Aug-12 Wellbeingreen Sep-11 Your Solar Pty Ltd Aug-12

Ends/

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