The future doesn't look so bright for China-based Suntech, one of the world's largest makers of solar panels: On Wednesday, it was forced into bankruptcy after missing a $541 million payment to bondholders.
A small solar power company hopes to become a winner in a market littered with losers.
San Jose, Calif.-based SoloPower is opening a $60 million manufacturing facility in Portland, Ore., Thursday as it works toward receiving a major government loan — like the one given to now-bankrupt Solyndra. SoloPower thinks it has a strategy to succeed where Solyndra failed.
President Obama called for more domestic oil and gas production, saying that "a future where we're in control of our own energy" is within reach, where the nation's security and prosperity would not be so closely linked to unstable parts of the world.
Toward that end, he said his administration would open more than 75 percent of potential offshore oil and gas resources for development.
The president stressed that the country already has progressed toward energy independence and used less foreign oil last year "than in any of the past 16 years."