Research On Technical Efficiency And Market Performance Of Photovoltaic Power Generation Industry In China Under Renewable Portfolio Standards

As an effective fit for the strategic needs of the top-level institutional design of China’s energy low-carbon transformation,the Renewable Portfolio Standards(RPS)will help to promote the optimization of China’s energy structure and electricity market-oriented reform.The success of its implementation depends on the scientific institutional parameter design.At the same time,in order to deal with the energy shortage and environmental pollution,it has become a long-term strategic choice to vigorously develop the photovoltaic power industry.Stimulated by renewable energy incentive policies,photovoltaic power generation industry has achieved significant growth in China.However,the photovoltaic power generation industry is still in the early stage of development,with relatively backward technical efficiency and market performance levels.Its high-quality development is still inseparable from the support and promotion of the policy.Therefore,to explore how to promote the technical efficiency and market performance of the China’s photovoltaic power generation industry through scientific and reasonable RPS parameter design has both theoretical and practical significance.Based on the above background,this paper studies the impact of the RPS on the technical efficiency and market performance level of the photovoltaic power industry in China Firstly,this paper expounds the implementation mechanism of RPS and green certificate trading system,and analyzes technical efficiency and market performance through technical efficiency theory and industrial organization theory.Secondly.on the basis of sorting out the mechanism of the impact of RPS on the technical efficiency and market performance of China’s photovoltaic power generation industry,using system dynamics and data enveloping analysis methods,the long-term transaction model and technical efficiency measurement model of the photovoltaic power generation industry to participate in the green certificate market under the RPS are constructed.Finally,according to the results of simulation and sensitivity analysis,the influence of the RPS on the technical efficiency and market performance of the photovoltaic power industry in China is analyzed and discussed.The research results show that:(1)The RPS directly or indirectly affects the technical efficiency of the photovoltaic power generation industry through the top-level system design and power manufacturers decision-making behavior,and the technical efficiency affects the market performance by influencing the operational efficiency and technological progress of the photovoltaic power generation manufacturers.At the same time,the government can adjust the institutional parameter design of RPS in time to ensure the effective implementation of the RPS through the change of market performance level.(2)The implementation of the RPS has a good incentive effect on the photovoltaic power generation manufacturers,prompting them to increase their investment in technology research and development and technological innovation,and effectively improving the technical efficiency level of the photovoltaic power generation industry.At the same time,the increase in the green certificates price helps to improve the investment level of photovoltaic power generation manufacturers,leading to a synchronous increase in power generation and revenue levels,thereby optimizing and improving the power source structure and social welfare level.(3)Considering the non-neutral of renewable energy power generation technology,this paper introduces photovoltaic issuance coefficient as a key variable.When the photovoltaic issuance coefficient is higher,the more green certificates can be exchanged by photovoltaic power generation manufacturers,and the more obvious the promotion effect on the technical efficiency and market performance of photovoltaic power generation industry.(4)Higher quotas and green certificate benchmark prices,as well as shorter green certificate validity periods,can improve the power generation capacity and revenue level of photovoltaic power.producers,and effectively promote the technical efficiency and market performance of photovoltaic power generation industry.Therefore,the design of scientific and reasonable RPS parameter is conducive to improving the technical efficiency and market performance of the photovoltaic power generation industry in China,so as to promote the low-carbon energy transformation of China with high-quality.