On September 6, 2011, Solyndra, a solar system manufacturing company, filed for Chapter 11 bankruptcy protection. In September 2009, Solyndra received a loan guarantee commitment from the Department of Energy valued at $535 million, of which $527 million had reportedly been drawn down at the time of the bankruptcy announcement. Financial stress that leads to corporate bankruptcy can be caused by a number of factors, including changing market/competitive conditions, corporate and financial management decisions, financial markets, global policy changes, among others. This report evaluates how changes in the solar market, since Solyndra’s founding in 2005, might have contributed to corporate financial stress and the company’s bankruptcy filing.
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