Study On Investment Problems Of Solar Power Projects

Energy security and the environment protection have become the theme of the global energy problem. They are the core of strategy task of social and economic sustainable development. Solar power as a kind of clean and renewable energy has received more and more attention. At present, China’s solar power industry is still in the initial development period. Solar power cost is high. Due to various reasons of capital, technology, policy, market and so on, the relevant technology research&innovation and the application of our country are still with the very big disparity compared with the world’s advanced level. The biggest obstacle of the development is lack of investment. The shortage of capital problem is one of the "bottlenecks" of our solar power industry for the further development. Solar power industry belongs to the high technology industry. Investment is with important significance for its development. There are a lot of uncertainties to invest large solar power grid projects. The funds required for the investment is high. How to attract investors to invest solar power projects and related technology research&innovation are the key to promote the development of solar power industry. But there is not much of applying economics theories to systematacially deeply analyze and study the problems of solar power projects’investment. There is seldom to construct mathematical models to analyse and do empirical study by use of statistic analysis from the results of questionnaire suvery. Thus, analyse the problems of investment of solar power projects in China, put forward the innovation model of the investment incentive mechanism of the solar power projects in China and the related countermeasures that are suitable for China’s characteristics are with positive and very important theoretical and realistic significances.In order to study investors behavior characteristics and the main factors influencing investors investment decisions, explore methods and approaches to solve the solar power project investment, this dissertation summarized, reviewed and absorbed related research achievements of scholars both at home and abroad; applied economics correlation theories combined with game mathematical model analysis, and empirical research through the questionnaire survey&statistical analysis, summarized foreign relevant experience, put forward some suggestions. The following aspects have been mainly researched and concluded:1. Analyzed current situation and existing problems of the solar power projects’ investment and their underlying causes in China. 2. Applied economics theories to study the characteristics of solar power projects and their investment, analyzed the main factors that effect on investors to invest solar power projects in China and especially the reasons that private enterprises do not plan to invest solar power projects actively; Based on the behavior characteristics of (potential) solar power projects’ investors, demonstrated the related signals that have something to do with influncing investment and financing issued by the government (namely the related policies) will influence investors’ decisions on whether invest solar power projects or not. The policies to improve the investment environment are the most important factors affect current projects’ investment. Theoretically analyzed the significances of private enterprises to participate in the solar power project investment and puts forward the related suggestions on how to guide the social capital to invest solar power projects.3. Studied the inner mechanism of policies to stimulate solar power projects’ investment by the use of Porter Model. On the bases of analysing dynamic factors&incentive characteristics of solar power projects’ investment, further concluded that government incentive policies play the most important role on current solar power projects’ investment. Put forward that policies need to improve the investment environment, foster&develop the market, strengthen technical research, enhance the technical level.4. By the use of analysis of the evolutionary game model, concluded that preferential policies of Feed-in Tariff, subsidies, taxation, and loan interest rate which directly influence the investment cost will help attract investors to invest in solar power projects.5. Through the questionnaire research and statistical analysis, concluded the main factors affect investors to invest, demonstrated the study results of economics theories and game modles.6. Studied characteristics of domestic and foreign incentive polices of solar power investment and their actual effect, and further demonstrated that currently solar power project investment in our country need the government’s support, guide and promote.7. According to analyses of economic theories&game math models, empirical research, and the domestic&international practices, put forward the related suggestions.