German Solar Panel Company Files for Bankruptcy -- Once The Largest Solar Panel Maker In The World

As regular readers know, I track the number of active drilling rigs in North Dakota; we're currently up to 208, a new record.

It looks like we need to start tracking something else: the solar companies that are going bankrupt.

Earlier today I posted a story about an American solar company filing for bankruptcy, another one given financial backing by the US government. It appears the contagion is spreading: now Germany.

German solar panel maker Q-Cells SE, once the largest solar panel maker in the world, has said it will file for insolvency tomorrow following a failed attempt to restructure its debt. A court ruling last week prevented the company from completing a debt for equity swap.

I count about four US solar companies have have declared bankruptcy in the last year, and now a German company. We're up to five (5).

Bloomberg reports on Q-Cells here.