Research On The Influence Of Tax Incentives On The Innovation Ability Of New Energy Power Generation Enterprises

Ecological environment protection,as a global issue,is increasingly receiving attention from governments around the world.Energy conservation and emission reduction,green development,and the development and utilization of new energy have become common goals worldwide.The new development concept with innovation,coordination,green,openness,and sharing as the main content has deeply rooted in people’s hearts in China.With the continuous improvement of new energy power generation technology in China,the costs of new energy power generation enterprises are constantly decreasing,and the installed capacity is also rapidly increasing.New energy power generation enterprises are gradually entering a high-speed development stage.At present,China vigorously supports the development of new energy power generation enterprises,and has successively introduced relevant tax preferential policies to support the development of new energy power generation enterprises,especially to improve their innovation capabilities.The implementation of these policies has achieved positive results.However,as new energy power generation enterprises enter the stage of high-quality development,some issues related to current tax incentives need to be further studied,such as how tax incentives affect the innovation ability of new energy power generation enterprises? Will there be differences in this impact or effect due to the heterogeneity of enterprises? Based on the above issues,this article conducts in-depth analysis and research on the theme of tax incentives affecting the innovation ability of new energy power generation enterprises.Based on the analysis of market failure theory,endogenous economic growth theory and technology innovation theory,this paper first discusses the necessity of the government to implement tax incentives in the process of independent R&D activities of enterprises,and reveals the mechanism of tax incentives for enterprises to carry out innovation activities,including that tax incentives help reduce the use cost of R&D funds,increase R&D human capital investment,and reduce R&D risks,To motivate enterprises to increase R&D investment in the innovation process.Secondly,the development status of new energy power generation enterprises in China is introduced,and the current tax incentives for new energy power generation enterprises in China are elaborated.After analyzing the theoretical basis and mechanism of action,four research hypotheses were proposed.560 sample data from 112 listed new energy power generation companies from 2017 to 2021 were processed using STATA software,and regression analysis was conducted using a fixed effects model.The research results indicate that: firstly,tax incentives have a positive incentive effect on the innovation ability of new energy power generation enterprises,which means that tax incentives can significantly enhance the innovation ability of energy power generation enterprises;Secondly,there are certain differences in the impact of tax incentives on the innovation capability of new energy power generation enterprises under different ownership systems,mainly manifested in the more significant impact of tax incentives on the innovation capability of non-state-owned new energy power generation enterprises.Thirdly,there are certain differences in the incentive effect of tax incentives on the innovation ability of new energy power generation enterprises of different scales,manifested in the stronger incentive effect of tax incentives on R&D investment of large enterprises compared to small and medium-sized enterprises.Fourthly,there is significant regional heterogeneity in the impact of tax incentives on the innovation capability of new energy power generation enterprises,mainly manifested in the more significant impact of tax incentives on the innovation capability of new energy power generation enterprises in the eastern coastal areas.In order to better leverage the positive impact of tax incentives on the innovation capabilities of new energy power generation enterprises,it is recommended to further increase the intensity of tax incentives related to new energy power generation enterprises,implement differentiated tax incentives for enterprises of different ownership types and sizes,and continuously improve the tax policy system that encourages the development of the new energy industry.New energy power generation enterprises themselves should also make reasonable use of tax incentives,To maximize the positive role of tax incentives in enhancing the innovation capacity of new energy power generation enterprises.