Research On The Financial Support Mechanism Of Photovoltaic Industry Technology Innovation From The Perspective Of Life Cycle And Multi-Region

In the context of the current transformation to carbon neutral clean energy and green economy,the PV industry is critical to achieving China’s green transformation as a model for the development of China’s strategic emerging industries.At present,China’s photovoltaic industry is in a leading position in the world in terms of scale and industrial system construction,but it lacks the patent reserve of photovoltaic core technology and the level of technological innovation.Therefore,if the development of photovoltaic industry wants to make new breakthroughs,technological innovation is the top priority.The development of technological innovation requires financial support,but investment in technological innovation activities is important,the risk is high,and there is heterogeneity in technology cycle and region,which leads to the complexity of the law of financial support mode and scale optimization and matching.Therefore,from the perspective of financial support to promote technological innovation and development of the solar industry,this paper analyzes the heterogeneity of the action mechanism of different financial support modes in each stage of the technological innovation life cycle of photovoltaic industry and different regions,so as to improve the efficiency of financial support,share innovation costs and disperse innovation risks,and further put forward corresponding policy suggestions based on the analysis results,Promote the development of high-quality technological innovations in the Chinese solar industry.This paper analyzes the patent situation of photovoltaic industry technology,constructs a logistic model to divide the life cycle of technological innovation,and uses the sum of deviation square cluster analysis to divide the technological innovation level area of photovoltaic industry.Furthermore,using SYS-GMM model and fixed effect model,this paper clarifies the action mechanism of financial support on each stage of technological innovation life cycle and multi regions of technological innovation level of photovoltaic industry from two levels: time sample based on technological innovation life cycle and space sample based on innovation level,and obtains the following main research conclusions:(1)At the level of technological innovation life cycle,In the growth period of technological innovation of photovoltaic industry,government financial support has a positive impact on innovation;The financial support of photovoltaic industry,especially in the period of credit technology expansion;In the mature period,the government financial support gradually withdraws from the market,and the support of market finance,especially the stock market,has a great impact.(2)At the regional level with different levels of technological innovation,high-tech innovation level regional technological innovation activities can obtain financial support from various financial entities;With the continuous improvement of the level of technological innovation,the support of the government and the insurance market has gradually decreased.Finally,this paper puts forward policy suggestions from the two levels of government and financial market.The government should adopt differentiated support strategies and provide financial subsidies;Financial institutions should develop appropriate financial products and tools based on the financing needs of different stages or regions,so as to make financial support more targeted.