Study On The Value Of Distributed Photovoltaic Power Generation Technology Of Company Y Under The Guidance Of "Double Carbon" Strategy

On September 22,2020,at the 75 th session of the United Nations General Assembly,President Xi Jinping proposed a “dual carbon” strategy,namely,China strives to achieve peak CO2 emissions by 2030 and carbon neutrality by 2060.Under the “double carbon”vision,decarbonization of the power supply side has become an important driver of energy conservation and emission reduction,and the use of solar energy and other renewable energy generation technologies can realize the “decarbonization” of the power supply side.Solar energy in China has unparalleled advantages over other green energy sources.It has a stable distribution in different regions,and the light energy is collected and used without harmful pollution,and after years of development,the application technology is mature and the safety level is guaranteed,and it also has diversified storage methods.All in all,solar energy is a green energy source to meet the requirements of the future,and the combination with energy storage can meet our future needs for energy.However,compared to traditional thermal power plants,photovoltaic technology has high upfront investment costs,long payback periods,and high value uncertainty.In this context,this paper provides new valuation ideas for distributed photovoltaic power generation technology and conducts valuation studies with specific cases to help relevant investors have a more comprehensive and accurate grasp of the value of this technology and thus make scientific and reasonable investment decisions.Given that the country is promoting the “double carbon” strategy,China still lacks complete and scientific valuation ideas and techniques for the valuation of distributed photovoltaic power generation technologies in asset valuation practice,this paper selects the distributed photovoltaic power generation technology involved in the capital increase project of Company A to Company Y to conduct a value study in the hope of This paper selects the distributed photovoltaic power generation technology involved in the capital increase project of Company A to Company Y for the value study,in order to improve the original valuation ideas,optimize the valuation system and obtain more scientific and reasonable valuation results.In this paper,we analyze the value of distributed photovoltaic power generation technology in the context of the “double carbon” strategy.The research idea of this paper is that the value of distributed photovoltaic power generation technology consists of two parts: the value of patent rights assets and the value of carbon emission rights assets,and proposes to conduct separate valuation studies on the value of the two parts to reflect the value of distributed photovoltaic power generation technology comprehensively.By comparing and analyzing the applicability of the three traditional valuation methods and the real option method,this paper finds that the traditional valuation methods have certain limitations.The B-S option model in the real option method reflects the impact of changes in market conditions on earnings through parameters such as volatility,and fully takes into account the option value of patent rights assets.In addition,the national carbon market has been launched and is gradually expanding its coverage.While using distributed photovoltaic power generation technology to achieve energy saving and emission reduction goals,the revenue generated from carbon trading will become one of the competitiveness of photovoltaic power generation enterprises in the power generation industry,so the profitability of carbon trading is also a part of the value composition of distributed photovoltaic power generation technology that cannot be ignored.In this paper,we use ARIMA simulation to predict the trading price of carbon emission rights,and then evaluate the value of carbon emission rights in the carbon market.We combine the value of patent assets with the value of carbon emission rights,eliminate some uncertainty factors,and use a combination of multiple evaluation methods to conduct case specific value evaluation research,so as to provide a more scientific and reasonable value evaluation method for distributed photovoltaic power generation technology.The value of this paper is that,firstly,in the study of the value of distributed photovoltaic power generation technology,the value of carbon emission rights saved by the application of the technology is considered,which is not limited to the valuation of patent assets only,making the valuation results more comprehensive and detailed,and also providing new valuation ideas for appraisers to participate in the valuation of clean energy power generation industry in the future,which is conducive to appraisers to better serve intangible assets investment and financing.Valuation of intangible assets.Second,the scientific and reasonable valuation of distributed photovoltaic power generation technology solves the problem of undervaluation of the technology and helps investors to confirm the objective value of distributed photovoltaic power generation technology,and also stimulates the enthusiasm of technology researchers in the process of patent research and development,which improves the efficiency of decarbonization of the electricity supply side as soon as possible.Thirdly,it is conducive to more reasonable and effective investment and financing activities in the PV power generation industry,helping the development of the PV industry and accelerating the pace of energy conservation and emission reduction.