Research On The Evaluation Of Photovoltaic Enterprises From A Non-Financial Perspective

Due to the emission of greenhouse gases,the global climate is warming and extreme weather events are becoming more frequent.Reducing carbon emissions and replacing traditional energy sources is a common goal for the world.In China,the goal is to reach carbon peak by 2030 and carbon neutrality by 2060.To achieve this goal,the problem of replacing fossil fuels with clean energy must be addressed.As a key component of clean energy,photovoltaic energy has an important strategic position in the development of the photovoltaic industry.In this context,it is of great practical significance to reasonably evaluate the value of photovoltaic enterprises and promote orderly M&A transactions.This article found that existing photovoltaic enterprise valuation models rarely consider the impact of non-financial factors.However,the photovoltaic industry is a policy-oriented industry,and the value of its enterprises is greatly affected by non-financial factors.Therefore,based on previous research,this article constructs an enterprise valuation model that considers non-financial factors to more objectively and comprehensively evaluate the value of photovoltaic enterprises.The research logic of this article follows the steps of "literature review-theoretical analysis-current situation analysis-model construction-case verification".This article uses the enterprise free cash flow model to evaluate the basic value of photovoltaic enterprises,and corrects the basic value through selected non-financial factor indicators.The article uses the intuitionistic fuzzy hierarchy analysis method to determine the weight of non-financial indicators and the fuzzy comprehensive evaluation method to determine the impact coefficient.Compared with other analysis methods,the intuitionistic fuzzy hierarchy analysis method considers the uncertainty of judgment and is more in line with the logical thinking of value judgment.Finally,this article evaluates the final value of photovoltaic enterprises by correcting the coefficient.The research conclusions of this article are as follows: In the valuation of photovoltaic enterprises,the impact of policy,social benefits,and environmental benefits on their value needs to be considered,among which policy,external benefits,and industry have the greatest impact on the value of photovoltaic enterprises.However,traditional valuation methods are not applicable to the valuation of photovoltaic enterprises,and non-financial factors need to be included in the evaluation system.This article compares the enterprise value with and without non-financial factors and finds that the enterprise value considering non-financial factors is more reasonable.The article clearly gives the impact coefficient and finds the impact of non-financial factors on enterprise value.Therefore,the development of the photovoltaic industry should move towards a more comprehensive direction,and the value calculation in the M&A process should also be more comprehensive.