You are sadly very far from the first to get suckered in, this industry does seem like a rational investment to make given the rate of advancement in manufacturing technology, and how rapidly costs have improved in the past.
Quite a lot of people fell for the idea that we really are beginning to run out of fossil fuels and so their price should invariably increase over time as demand increases. Alternative power has also gotten a lot of press in general in the last decade.
Companies such as this one are leveraged. It takes a only a small drop in price of competing products (such as natgas and oil based power) to erase their profit margin and another small drop to send it deeply into negative territory. Then there's those 10% yielding bonds to consider. This one is done for, practically speaking.
Public solar power companies and their stocks crashing and burning is hardly a new thing. See 2008 and 2012.