On Monday, solar panel manufacturer Suniva said it was filing for Chapter 11 bankruptcy protection.
The company is one of many in the solar panel business, and some solar panel makers are trying to close the deal on a deal that would keep the business running for a while.
But as it is, solar panels remain the best way to store solar power and get the job done, said Paul Kostas, executive vice president of Suniva.
Suniva also said it had reached an agreement with another solar panel company, SolarCity, for a possible merger, according to the Associated Press.
SolarCity is the third-largest solar panel maker in the world, with about 9 million customers, and its CEO, Lyndon Rive, has said the company would invest in solar power technology and install panels on homes.
The deal would combine the solar companies, which together make about 70% of the world’s installed solar panels.
Sunivas solar panels, which can be mounted to any type of roof, cost about $10,000 each.
In December, the company said it planned to close 1,600 solar panel factories worldwide by the end of the year.
The solar panel manufacturing industry is in the spotlight after a series of solar panel fires that have sparked national safety concerns.
In March, California became the latest state to ban solar panel installation, while in April, North Carolina said it would ban solar installation on residential roofs.
Sunavios shares fell 3.5% to $30.65 on Monday.
