American thin-film solar module manufacturer Stion is closing up shop, even as the U.S. government prepares to implement trade remedies designed to shore up the domestic solar panel manufacturing sector.
The San Jose-headquartered company confirmed to GTM on Monday that it plans to “discontinue operations,” in a letter signed by Stion management.
The statement blames “intense, non-market competition from foreign solar panel manufacturers, especially those based in China and proxy countries” for severely undermining the viability of Stion’s business.
