| The infinite nature of energy demand and the limited contradiction of energy resources force humans to develop new energy sources and alleviate energy pressures.Because solar energy is clean and renewable,it is the main goal of future energy development.The development of solar energy resources is of great significance to the national economic development and implementation of energy strategy.The solar photovoltaic industry is one of the important strategic emerging industries in China.Due to the strategic characteristics of the photovoltaic industry itself,the development of the photovoltaic industry has received much attention from the government.In order to promote the development of solar photovoltaic industry,China has formulated and implemented a large number of industrial support policies.With the support of the government,China's photovoltaic industry has greatly increased the installed capacity of photovoltaic power generation,and the industrial development has shown stage characteristics.Before 2008,the photovoltaic industry was in a stage of free development.Since 2008,the government has gradually paid attention to the development of the photovoltaic industry and provided a large amount of financial support for the development of the photovoltaic industry.From 2009 to 2011,the investment in the photovoltaic industry has increased sharply,and the industry is in a stage of rapid expansion.In 2011,due to the rise of the European debt crisis and trade protectionism,the demand for photovoltaic products was greatly reduced,and photovoltaic production capacity was excessive,and industrial development stagnated.After 2011,the photovoltaic industry is mainly in the stage of policy adjustment.As of the end of 2017,China's installed capacity of photovoltaic power generation reached 130 million kilowatts,an increase of 68.7% year-on-year.For the third consecutive year,the installed capacity of photovoltaic power generation ranked first in the world.In 2017,the newly installed capacity of photovoltaic power generation ranked first in renewable energy,reaching 53.06 GW.At the same time,the industrial development driven by the government's fiscal policy has also revealed some problems,such as overcapacity,high light rejection rate,key process technology and high-end equipment needs to be upgraded.In view of the problems existing in the current PV industry,this paper attempts to explore the effectiveness of the PV industry policy,empirically study the role of photovoltaic subsidies to the photovoltaic industry and its implementation effects,and then optimize the photovoltaic industry fiscal policy for the sustainable development of industrial health.At present,the photovoltaic industry is in the stage of policy adjustment.In December 2016,the “13th Five-Year Plan for Solar Energy Development” formulated by the National Energy Administration clearly pointed out that the current basic task of the solar energy industry is to promote industrial upgrading,reduce production costs,and expand product application scope.Gradually reduce the dependence of enterprise subsidies and realize the self-sustaining development of the solar energy industry by market mechanism.In order to promote the development of the photovoltaic industry market mechanism and promote the healthy and sustainable development of the solar energy industry,it is imperative to subsidize the slope retreat mechanism.In May 2018,the National Development and Reform Commission,the Ministry of Finance,and the National Energy Administration in detail the "Notice on Matters Related to Photovoltaic Power Generation in 2018",which detailed the photovoltaic subsidies for declining electricity prices.The implementation of the photovoltaic subsidy declining mechanism will definitely affect the development of the industry.Whether PV companies can demonstrate the vibrancy of market competition and maintain healthy and sustainable development under the mechanism of PV subsidies will become the focus of the current industry.Therefore,this paper first expounds the concept and basic characteristics of strategic emerging industries and the mechanism of industrial policies on the development of strategic new industries.Secondly,it analyzes in detail the development and development history of the solar energy industry,the status quo of the industry,the financial subsidy policy and the main problems.Finally,from the microscopic perspective,the growth status of the photovoltaic industry reflects the development status of the photovoltaic industry and the performance of enterprises under financial subsidies.This paper takes the data of the 23 listed companies whose main business belongs to the solar energy concept block as 2008-2017;builds a comprehensive index of corporate growth,reflecting the growth status of PV listed companies;and samples the samples of different enterprise nature at the same time.Analyze and establish a multivariate linear regression model to empirically test the relationship between government financial subsidies and the growth of PV companies,and explore the effects of government financial subsidies for state-owned enterprises and private enterprises.The empirical results show that the growth performance of the photovoltaic industry is generally poor,and the growth performance of state-owned enterprises is significantly worse than that of private enterprises;the government financial subsidies have a significant negative correlation with the growth of PV listed companies.The effect of government financial subsidies on different types of enterprises is different.Compared with state-owned enterprises,government financial subsidies have a greater impact on the growth of private enterprises,and the negative effect is more significant.Improper government intervention,rentseeking activities,and imperfect government financial subsidy mechanisms are important factors that limit the government's financial subsidies.Compared with the existing literature,the innovation of this paper lies in: First,this paper conducts a sample analysis of samples of different enterprise nature,and discusses the government financial subsidy effect of state-owned enterprises and private enterprises.According to the literature review in the photovoltaic industry,few scholars have considered the differences between state-owned enterprises and private enterprises in their resource endowment and institutional logic,and this difference may lead to the use of government financial subsidies for enterprises of different natures.Different enterprise performances will occur during the production activities;secondly,based on the perspective of corporate growth,the effect of government financial subsidies on the photovoltaic industry will be tested.Most of the existing articles reflect the development status of PV enterprises with a single indicator,and they cannot fully reflect the sustainable development potential of the company in the future.Under the general environment of subsidies for photovoltaic industry subsidies,the improvement of enterprises' own competitiveness has become particularly important.Considering that the company's growth includes many aspects,it involves many indicators,which not only reflects the improvement of the medium-sized enterprise development,but also shows the increase of output and the increase of profits.It can also reflect the improvement of the quality of the enterprise development,such as: the operational capacity of the enterprise.,resistance to risk,profitability,etc.In order to fully reflect the development status of photovoltaic enterprises and understand the competitiveness of photovoltaic enterprises,this paper uses principal component analysis method to build a comprehensive index of growth of photovoltaic enterprises.This method can retain most of the information in the original data without subjective factors. |
PDF Full Text Request