The Study Of Inclusive Financial Support For Photovoltaic Power Generation Development Based On Spatial Panel Metrology Model

In recent years,China’s photovoltaic power(PV)generation has shown large-scale development.However,PV generation projects are difficult to obtain low initial funds due to their high-risk characteristics in the initial stage of construction,facing with the reducing subsidy.Therefore,the optimal solution is to obtain the investment for PV generation project through financial services,such as banks,capital markets etc.Inclusive finance,refers to a financial system that provides services to all sectors and groups of society in an effective and comprehensive manner.This paper constructs the inclusive finance development index(FII)system including service from bank,securities and insurance,and calculates FII for the 31 inland provinces of China for 2012-2017.Spatial correlation test results of FII and PV installation show significantly spatially heterogeneous.Considering that the development of inclusive finance and PV installed capacity data show obvious regional differences,this paper innovatively introduces the spatial weighting factor and selects the province’s solar radiation,PV benchmark feed-in tariff and subsidies for d distributed PV power generation as control variables to explore the impact of inclusive financial development on the PV power generation industry by constructing a spatial measurement model.The empirical results show that China’s inclusive financial development has a positive support effect on the PV power generation industry.In addition,the development of inclusive financial development has a certain spillover effect on the support of the PV power generation industry.Finally,this paper puts forward specific policy recommendations to promote the synergetic development of inclusive finance and PV power generation industry.