补贴
关税
盈利能力指数
激励
上网电价
可再生能源
中国
现金流
投资(军事)
业务
经济
公共经济学
产业组织
货币经济学
国际经济学
能源政策
财务
市场经济
电气工程
工程类
政治
政治学
法学
作者
Boqiang Lin,Yongjing Xie
出处
期刊:Energy
[Elsevier]
日期:2024-05-01
卷期号:294: 130853-130853
被引量:2
标识
DOI:10.1016/j.energy.2024.130853
摘要
The feed-in-tariff (FiT) policy is a commonly applied policy instrument aimed at fostering renewable energy (RE) investments, yet its actual incentive effect remains controversial, and there is a dearth of micro-level evidence. This study utilizes data from 39 Chinese RE generation companies from 2014 to 2021 to investigate the effect of FiT subsidies on RE investments at the corporate level. Our outcomes are as follows: (1) FiT subsidies exert a significantly positive influence on the investments of RE firms, wherein cash flow, corporate profitability and financing constraints serve as intermediating factors. (2) The economic policy uncertainty (EPU) tends to diminish the positive impact of FiT subsidies on RE investments. Conversely, environmental regulation (ER) levels can enhance the FiT subsidies' positive effect. (3) The stimulating effect of FiT subsidies on investments in large state-owned RE firms exhibits a greater magnitude. Based on this, we put forward targeted policy recommendations.
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