Evergreen Solar has had a rough year. In January, the company announced that it would be laying off 800 employees at its plant in Devens, Mass., and moving those jobs to a production facility in China. Yesterday, the company took another turn for the worse with the announcement of a bankruptcy filing.

The company, which has been around since the 1990s, filed for Chapter 11 bankruptcy protection on Monday. A CNBC.com article lists two main reasons for the filing: competition from cheaper Chinese products and the reduction of solar subsidies in Italy, Germany and other European countries.

This morning, shares of Evergreen Solar are down nearly 13 percent to $0.157 per share. In late 2007, shares of the renewable energy company were trading at an all-time high of $113.10.

In other solar company news, shares of First Solar are down 2 percent so far today and down 20.1 percent year-to-date. SunPower, another major player in the U.S. solar industry, is doing quite well. The company’s stock prices are up more than 22 percent so far this year.

Evergreen Solar files for bankruptcy
Competition from China is just one reason that Evergreen Solar has filed for bankruptcy.