ETF Trends
ETF Trends

Solar exchange traded funds have been on the decline as greater competition among industry participants sends prices lower and small manufacturers out of business.

Guggenheim Solar ETF (NYSEArca: TAN) is down 33.7% year to date, while Market Vectors Solar Energy (NYSEArca: KWT) is down 38.5%.

The solar sector is turning into a cutthroat industry, with one more solar panel maker biting the dust.

Solyndra, which has garnered $535 million in federal loans on top of more than $700 million in venture capital financing, has filed for bankruptcy, according to The New York Times.

The company’s bankruptcy filing follows similar circumstances as Evergreen Solar and SpectraWatt. [Solar ETFs Down Over 20% Amid Industry Shakeout]

Higher production has flooded the solar panel market, pushing prices down an average 25%. Also, foreign capacity has expanded as austerity measures in the Eurozone reduce subsidies, along with lower demand.

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