SoloPower

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Solar energy company founded in 2005

title: "SoloPower" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["solar-energy-companies-of-the-united-states", "photovoltaics-manufacturers", "thin-film-cell-manufacturers", "manufacturing-companies-based-in-san-jose,-california", "technology-companies-based-in-the-san-francisco-bay-area", "energy-companies-established-in-2005", "manufacturing-companies-established-in-2005", "renewable-resource-companies-established-in-2005", "2005-establishments-in-california", "american-companies-established-in-2005"] description: "Solar energy company founded in 2005" topic_path: "arts" source: "https://en.wikipedia.org/wiki/SoloPower" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0

::summary Solar energy company founded in 2005 ::

::data[format=table title="Infobox company"]

FieldValue
nameSoloPower
typePrivate
foundation2005
location_citySan Jose, California
location_countryU.S.
key_peopleTim Harris (CEO)
Ryan Benton (CFO)
industrySolar Energy
productsSolar panels
homepagesolopower.com
::

| name = SoloPower | logo = | type = Private | genre = | foundation = 2005 | location_city = San Jose, California | location_country = U.S. | location = | locations = | area_served = | key_people = Tim Harris (CEO) Ryan Benton (CFO) | industry = Solar Energy | products = Solar panels | services = | operating_income = | net_income = | assets = | equity = | owner = | num_employees = | parent = | divisions = | homepage = solopower.com | footnotes = | intl =

SoloPower was a solar energy company developing and manufacturing Copper indium gallium selenide (CIGS) thin-film flexible Photo-voltaic Solar Panels. The company used a special electroplating technology to utilize nearly 100% of its materials.

SoloPower was based in San Jose, California, and achieved the distinction of being the first company to obtain UL Certification of CIGS flexible solar panels in 2010. This was lauded as a significant achievement by California Governor Arnold Schwarzenegger. Later the same year, the company also received IEC Certification (IEC 61646 and 61730) of its flexible CIGS solar panels, again an industry first. In March 2012, the company's modules set a world record aperture efficiency of 13.4% for flexible CIGS Solar Panels, as measured by NREL.

Company history

SoloPower was founded by Bulent Basol and Homayoun Talieh in 2005. The company started its pilot manufacturing line in December of the same year. In 2010, the company secured $45 million in debt financing and used $19.9 million of that to acquire the shares of ousted founders Talieh and Basol.

In 2010, SoloPower held talks with the town of Wilsonville, Oregon to set up a manufacturing plant there. In 2011, the United States Department of Energy approved a $197 Million Loan Guarantee to the company, enabling a 400MW manufacturing plant in Oregon. In May 2011, SoloPower decided to move the manufacturing facility to Portland instead. In April, 2013, SoloPower announced plans to suspend operations at the Portland plant and gut the remaining workforce.

SoloPower was announced a winner of the 2012 TiE50 award in the category of Clean Energy.

The company closed its doors in late 2017 and is no longer operational.

Funding

The Norwegian firms Convexa Capital, Spencer Energy and Scatec have invested approximately $30 Million into SoloPower in 2007. The United States Department of Energy funded the company with $197 million from the same program that funded Solyndra, as have the City of Portland and agencies in the State of Oregon, which provided $56.5 million, and the California Energy Commission. In early 2011, the company received $13.5 Million from Crosslink Capital. Lead investors in the company include Hudson Clean Energy Partners, Crosslink Capital, Convexa, and Firsthand.

In the summer of 2017, the State of Oregon's Department of Energy paid $641,835 to cover SoloPower's back rent.

Governments pay for defaults

The City of Portland pays $119,000 per month until late 2020 to cover for SoloPower's default on a loan the City guaranteed under Mayor Sam Adams in 2011. The money is taken out of Portland's Bureau of Transportation. The Bureau of Transportation pays because parking-meter revenue was used as guaranty.

References

References

  1. "Our Difference - SoloPower®". Solopower.com.
  2. "SoloPower trumpets certification for flexible solar modules". CBS Interactive.
  3. SoloPower, Inc.. (7 September 2010). "SoloPower Is First Ever to Receive UL Certification for a Flexible CIGS... -- SAN JOSE, Calif., Sept. 7 /PRNewswire/ --". Prnewswire.com.
  4. (18 October 2010). "SoloPower earns pair of IEC certifications for flexible CIGS thin-film PV module". Pv-tech.org.
  5. [http://www.marketwatch.com/story/solopower-sets-record-for-flexible-cigs-solar-panel-efficiency-2012-03-13] {{webarchive. link. (March 17, 2012)
  6. [http://www.solopower.com/founders.html] {{webarchive. link. (April 14, 2010)
  7. "Corporate - SoloPower®". Solopower.com.
  8. (19 February 2010). "SoloPower ends ex-CEO suit with $19.9M payment". Silicon Valley [[American City Business Journals]].
  9. Ehren Goossens. (17 February 2011). "U.S. Offers $197 Million Loan Guarantee for SoloPower Plant in Oregon". Bloomberg.
  10. (13 May 2011). "SoloPower to announce plans for $340 million North Portland solar panel plant". OregonLive.com.
  11. (23 April 2013). "SoloPower moves to power down Portland factory, gut remaining workforce". OregonLive.com.
  12. "SoloPower Receives TiE50 Award in Energy and Cleantech". Pv.energytrend.com.
  13. [http://www.marketwatch.com/story/tie-silicon-valley-announces-tie50-2012-winners-worlds-50-hottest-startups-honored-at-tiecon-2012-2012-05-15] {{webarchive. link. (August 5, 2012)
  14. "NORWEGIAN INVESTORS KEEN ON SOLAR".
  15. [http://www.solopower.com/doe_backs_photovoltaic_start_ups_with.html] {{webarchive. link. (April 12, 2011)
  16. (9 October 2012). "Is SoloPower the next Solyndra, or a solar power 'American success story'?". The Guardian.
  17. (24 September 2012). "U.S. poised to hand over $197 million to another solar panel start-up". Reuters.
  18. (26 November 2018). "FAILED OREGON SOLAR EQUIPMENT PLANT LEAVES BEHIND MILLIONS IN TAXPAYER LOSSES". [[The Heartland Institute]].
  19. (11 March 2011). "Flexible solar panel maker SoloPower raises $13.5M". VentureBeat.
  20. "SoloPower Sets Record for Flexible CIGS Solar Panel Efficiency". Eon.businesswire.com.
  21. (24 August 2017). "Portland Tribune".
  22. (23 August 2018). "State agency kept shoveling money to SoloPower to bitter end". [[The Oregonian]].
  23. (15 June 2017). "Portland to foot SoloPower's bill after company defaults on $10 million loan". [[The Oregonian]].
  24. (31 August 2018). "Taxpayer dollars heaped on SoloPower problem". [[East Oregonian]].
  25. (30 March 2012). "Mayor Sam Adams praised 'unusual' financing on SoloPower, model now for Columbia Biogas: Portland City Hall roundup". [[The Oregonian]].

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solar-energy-companies-of-the-united-statesphotovoltaics-manufacturersthin-film-cell-manufacturersmanufacturing-companies-based-in-san-jose,-californiatechnology-companies-based-in-the-san-francisco-bay-areaenergy-companies-established-in-2005manufacturing-companies-established-in-2005renewable-resource-companies-established-in-20052005-establishments-in-californiaamerican-companies-established-in-2005