The fund manager who dismantled the photovoltaic panels

Is DC Solar a Ponzi scheme?

The plan had many of the hallmarks of a classic Ponzi scheme, but with a twist. DC Solar wouldn’t just defraud new buyers to pay earlier ones. By holding itself out as a legitimate solar company, it would give all of them—new and old—cover to drain millions of dollars of tax credits from the U.S. Treasury.

What could the carpoffs do if DC Solar went bankrupt?

The Carpoffs had options, even if they weren’t ideal. They could close DC Solar. Or they could file for Chapter 11 bankruptcy, hoping that creditors would see enough worth saving to let the company reorganize. Or maybe there was another way.

Are PV panel waste management practices a critical issue?

However, as a large number of panels have reached the end of their lifespan, proper management practices are becoming a critical issue for the economy and the environment . The estimation reveals that the volume of PV panel waste is projected to increase significantly, reaching 1.7 to 8 million tons by 2030 and 60 to 78 million tons by 2050 .

What happened at DC Solar headquarters?

At about 9:30 a.m., the agents swarmed DC Solar headquarters, while a SWAT team broke down the front door of the Carpoffs’ hillside home. Agents found nearly $1.7 million in cash in Carpoff’s office safe. The agents pressed employees for the location of his cars. They were pointed down the street, to a trio of pristinely maintained warehouses.

Would DC Solar defraud new buyers?

DC Solar wouldn’t just defraud new buyers to pay earlier ones. By holding itself out as a legitimate solar company, it would give all of them—new and old—cover to drain millions of dollars of tax credits from the U.S. Treasury. The American taxpayer, that is, would subsidize the scam.

Is France a leader in photovoltaic waste processing?

France is already a leader among European nations when it comes to processing photovoltaic waste, says Nicolas Defrenne. His organisation, Soren, partners with ROSI and other firms, co-ordinating the decommissioning of solar panels all over France. "The biggest one [we decommissioned] took three months," Mr Defrenne recalls.