In a filing with the Securities and Exchange Commission, Solyndra cited "adverse market conditions" and cited its belief that the decision was "consistent with the public interest and the protection of investors." It also reported that no securities have previously been sold in connection with the former IPO plans.
Last month, Solyndra made national news when President Barack Obama stopped to give a speech at its California facility, with Governor Arnold Schwarzenegger also in attendance. At the time, Obama declared that "the future is here," and that "the promise of clean energy" is "happening right now."
Rooftop solar panel arrays are especially useful for large companies that consume large amounts of electricity and are interested in defraying their energy costs.
However, some distributed solar energy projects run by utilities have also been taking advantage of the large open spaces offered by warehouse and industrial rooftops to generate large amounts of clean power without having to deal with the regulatory burdens and costs that conventional plants can sometimes bring.
