Research On Investment Efficiency Evaluation Of Photovoltaic Enterprises Based On DEA Model

At present,the contradiction between economic development and environmental protection has become increasingly prominent.In order to reduce the dependence on non-renewable energy such as oil and coal and solve the global warming caused by carbon dioxide emissions,the new green energy industry has become the breakthrough for countries to cultivate the next economic growth point first.At present,the core competitiveness and technological innovation level of China’s photovoltaic,wind power and power battery industries are at the forefront of the world.As a kind of clean energy,solar energy’s renewable property accords with China’s sustainable development strategy,and it will become the main force of new energy in the future,with broad development prospects,which will help the country achieve the "double carbon" goal.Investment efficiency is usually used to measure the investment effect and development level of different regions,industries and enterprises in a country,so it is necessary to conduct in-depth research on the investment efficiency of photovoltaic enterprises.First of all,this thesis collates the domestic and foreign literature research on the development of photovoltaic enterprises,investment efficiency and the calculation of investment efficiency by DEA model.By combing the literature,we can see that the development of photovoltaic enterprises has evolved in different stages.At present,photovoltaic enterprises are in the transitional stage from the growth stage to the maturity stage.Although there is a breakthrough in technological innovation,there are also problems such as overcapacity due to excessive investment in the market and excessive government intervention.Secondly,the investment status of photovoltaic enterprises is qualitatively analyzed,and then the evaluation index system of photovoltaic enterprises’ investment efficiency is built to carry out quantitative analysis.Based on DEA model,the investment efficiency of photovoltaic enterprises in China from 2016 to 2020 is studied from the static and dynamic perspectives.The calculation results show that the average efficiency of photovoltaic enterprises is above 0.9,and the fluctuation is kept within 0.1,indicating that the overall investment efficiency of photovoltaic enterprises is high,but the listed companies are at the DEA effective level.From the results of dynamic model,the total factor productivity of photovoltaic enterprises has increased by 8.5%,5.2% and0.9% annually in different annual intervals,mainly due to the support of national policies and the continuous improvement of technical level.Then,according to the measurement results of the overall investment efficiency of the industry,a further comparative analysis of D companies in the industry is carried out,and the super-efficient DEA model is used to rank photovoltaic enterprises.It is found that the investment efficiency ranking of D companies in the industry has been declining year after year.Then,the projection value is measured by DEA-CCR model to observe the specific degree of investment redundancy and insufficient output of D companies and the extent to be improved.Finally,according to the DEA model measurement results of the investment efficiency of PV companies and D companies,some policy suggestions are put forward,such as rational allocation of resources,diversion of consumption costs,increase of R&D investment and improvement of internal control system.Studying the investment efficiency of photovoltaic enterprises has certain strategic significance for promoting the orderly development of China’s photovoltaic industry.The research results of this paper can provide a reference for photovoltaic enterprises on how to reduce costs and increase efficiency and how to achieve higher quality sustainable development,and at the same time provide a more scientific and reasonable analysis path for the evaluation of investment efficiency of photovoltaic enterprises.