Abound Solar bankruptcy to cost taxpayers up to $60 million

LOVELAND – Solar-panel maker Abound Solar will close its doors and file for bankruptcy next week, a collapse that will cost taxpayers $40 million to $60 million, the U.S. Department of Energy said Thursday.

An Abound spokesman said it was unclear immediately whether the company planned to file to reorganize through Chapter 11 or liquidate under Chapter 7.

Abound said it tried to find a buyer but failed to come to terms with any potential acquisition group.

The energy department said the market for solar panels conspired against the company.

“When the floor fell out on the price of solar panels, Abound’s product was…