By SeeNews Renewables — Dallas solar manufacturer 1SolTech Inc has reached a deal with the Texas attorney general’s office to settle a lawsuit for falsely labelling solar panels as made in the US, a Wall Street Journal blog said on Thursday.
The settlement calls for the firm to pay a USD-5-million (EUR 4.4m) civil penalty and restitution for customers of about USD 2.8 million. It needs to be approved by a bankruptcy judge.
The firm filed for bankruptcy and subsequently shut down after being sued in September 2013 for violating Texas’ consumer-protection laws. It has admitted to purchasing Chinese panels and then reselling them as US-made by 1SolTech. Some were also wrongly labeled as fulfilling certain standards.
The sales of the company, which used a factory in Dallas, were hit even before the court case due to a flooding of the market by Chinese solar panels, according to court documents, cited by the article.
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SeeNews Renewables goes beyond the familiar renewable markets of Western Europe and the US to encompass the potential of BRIC counties and emerging investment destinations in North Africa, the Asia Pacific, Central and Eastern Europe. SeeNews Renewables is covering all renewable energy sources: wind, solar, hydropower, biomass, geothermal and marine energy.
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