Study On The Financial Support To New Energy Industry Development In Hunan Province

With the development of industrialization, the world’s demand for energy is more and more big, and the traditional energy is facing big pressure. At the same time, caused by the use of traditional energy sources, the environmental pollution is becoming more and more serious. At present, with the emerging strategic industry concept putting forward, our country has turned gradually into the new energy. Hunan province has a large energy demand and the energy resources are relatively scarce. Vigorously develop new energy sources such as hydropower, biomass and biogas are feasible in Hunan province and it has a huge role in promoting development of industry in Hunan province. Optimizing energy structure, developing new energy industry is a major issue in Hunan province. In order to solve this problem, the financial support for the new energy industry is essential. In this context, research financial expenditures to develop new energy industry in Hunan Province has very important significance.In this paper, using the method of put the theory and empirical research together. The context is:First of all, do a simple overview to the definition and characteristics of new energy industry. Making the financial support to the New Energy that based on two aspects study:the financial development scale, structure, efficiency and different financial ways. That drawn the importance of financial support for the new energy industry from the theoretical part; Second, using EVIEWS software for the financial support and new energy industry, that has carried on the unit root test, cointegration test and granger causality test. In Hunan province, the financial development scale, the structure of the financial development and financial development efficiency all plays an important role in the development to the new energy industry of Hunan province. In particular, financial efficiency and scale in Hunan province are positively to the relationship between the new energy industry, but the financial structure is has a negative relationship with the new energy industry; Third, in order to determine the financing efficiency of different financial ways, examines the different financing efficiency of new energy industry in Hunan province by using the fuzzy comprehensive evaluation method. The conclusion is in Hunan province, the government investment and bank loan financing’s efficiency in new energy industry financing is high, followed by the issuance of bonds, and low financing efficiency of venture capital and equity financing. Finally, based on the problems existing in the financial support to the new energy industry in Hunan province and based on the empirical research results, putting forward some policy recommendations to make better financial services for the development of new energy industry.