US energy storage giant Powin faces financial crisis

Powin, a US energy storage integrator, may cease operations at the end of July due to financial problems. The company plans to lay off about 250 employees for unknown reasons. It may be related to China's battery tariffs and the US government is reducing clean energy incentives. Powin was founded in 2010 and has deployed 11.3+GWh of energy storage projects worldwide, with 6+GWh projects currently under construction.