The Research Of The Financing Structure Of Photovoltaic Industry Development In China

As the traditional energy is in short supply increasingly and development and utilization of traditional energy create serious problems for man’s living environment, the states all around the world are striving to develop safer and more environment-friendly new energy industry. In the recent years, our country promotes low-carbon economy, which contributes to the development of new energy industry, especially since the 21 st century, photovoltaic industry has a surprising development speed, however, disorderly competition leads to decline for the price, which speeds up the investigation on anti-dumping and countervailing. Photovoltaic industry of our country begins to seek new roads for development. After two years, the industry chains keeps improving, the industrial policies starts to change and export structure tends to be diverse, however, financing difficulty of our photovoltaic industry becomes increasingly prominent. Therefore, with financing structure taken as the breakthrough point, the new road for the development of the photovoltaic industry in China is explored.This paper analyses the current situation of the development and the reasons of the investigation on anti-dumping and countervailing and the financing structure of the photovoltaic industry in China, and finds that the policy-related subsidy not only the main fact to affect the export price, but also the important reason to change the financing structure. This paper uses statistic data of 2004-2013 in the photovoltaic industry to make empirical analysis on the financing structure’s impact on it, and the results show that the policy-related subsidies have limited impact on production enhancement of the photovoltaic industry and impede production efficiency of it, but policy-related subsidy keeps increasing in the whole financing amount, other financing components that contribute to the development of photovoltaic industry are weakened. Therefore, unreasonable financing structure impedes its development. Hareon Solar loss proves the empirical results. It is urgent to increase the proportion of other three financing ways, reduce subsidies and improve the direction of policy-related subsidies for the development of photovoltaic industry.