4 / 2021-11-09 15:25:00

Economic Uncertainty, Industrial Policies and Technical Innovation of Renewable Energy Enterprises: Evidences from the Listed Photovoltaic Companies in China

Economic uncertainty,industrial policies,renewable energy enterprises,technical innovation,fixed effect model(FEM)

Energy and Sustainable Green Development > 1. Energy Policy Research

The development of renewable energy is an important way to reduce carbon emission. Compared with traditional energy, renewable energy has been at a relatively weak market position under the constraints of R&D. Therefore, the application of industrial policies to support the development of renewable energy industry has become a worldwide consensus. In order to explore the effect of industrial policies and economic uncertainty on the technical innovation activities of renewable energy enterprises, this paper uses the data of photovoltaic enterprises in China and adopts the traditional and negative binomial fixed effect models(FEM) to test the R&D input and output of photovoltaic enterprises. The results show that economic uncertainty restrains the technical innovation activities of photovoltaic enterprises, and industrial policies such as subsidies and feed-in tariffs(FIT) can promote the technical innovation output performance of photovoltaic enterprises. In particular, the incentive effect of subsidies is mainly reflected in strengthening the R&D input of enterprises, while FIT don’t give play to the effect of increasing the R&D input of enterprises. In addition, the economic uncertainty will also restrict subsidy to promote the output effect of technical innovation of photovoltaic enterprises, and it has no impact on the effect of FIT.