Solar Energy Firm Defaults On Loans

Aug 24, 2012

The state is ordering Perrysburg-based Willard & Kelsey Solar Group to repay 5 million dollars in taxpayer-supported loans.

State officials say the solar energy firm failed to make payments on the loans and struggled to get investments. In addition to the loans, Willard & Kelsey also got nearly 700-thousand dollars in state grants and a 10-year job-creation tax credit. State officials say the industry has been harmed by the poor economy and a Chinese effort to flood the overseas market with cheap solar panels.