/State auditor demands solar panel company pay $93 million

State auditor demands solar panel company pay $93 million

Stacey Pickering, the state auditor, demands that Stion Corp., a maker of solar panels, pays nearly $93M owed to the state and local governments. Pickering stated Tuesday that it was the largest amount he’s ever asked a company to repay. Stion is just one of a number of green energy companies that have failed after receiving loans and incentives from the state. According to Pickering’s calculations, the company from San Jose, Calif. borrowed $74.8million from Mississippi. It failed to pay $2.1million in reduced property taxes to Hattiesburg, Forrest County, and owes $16million in interest on the state loan. Pickering stated that Stion has 30 days for repayment or face a civil suit. You can read the entire story here.