ARVADA, Colo.—Energy Secretary Steven Chu says the global market for solar energy remains huge and it’s important that the United States stay in the game.
Chu’s comments at Colorado solar facility on Friday came a day after hostile questioning by Republicans in Congress over a federal loan to Solyndra Inc., a failing solar-panel manufacturer in California. Chu told a House committee that unexpected market changes, including cheap imports from China and the collapse in the European market for solar panels, led prices for Solyndra’s product to fall.
Chu toured the PrimeStar solar manufacturing facility in suburban Denver that General Electric bought this year.
After, Chu said the highest level of innovation in the industry is happening in the U.S. He also said price parity and energy storage are key to solar’s success.
