The Relative Importance of Determinants of the Solar Photovoltaic Industry in China: Analyses by the Diamond Model and the Analytic Hierarchy Process
Abstract
:1. Introduction
2. Methods
2.1. The Diamond Model
- Factor condition: This refers to the status of the country in terms of production factors, such as labor, infrastructure, and natural resources [18]. In essence, these resources are the cornerstone of value creation and production activities.
- Demand condition: This connotes the nature of the home market demand for the industry’s product or service [18]. Porter [18] stated that when the domestic demand condition is relatively complex and there are overall expectations for high-quality goods and services, domestic companies are more likely to respond by increasing their production capacity.
- Related and support industries: This is the existence or absence of a supply industry in a country that can support the competitiveness of an industry in the global market [23]. New competitive industries will always be created in related and support industries, and opportunities for information and technology exchange will be provided. The relationship between these industrial clusters is critical to the success of a certain sector within a country [24].
- Firm strategy, structure, and rivalry: Porter believed that corporate strategy, industrial structure, and competition all have an impact on industrial competitiveness [18]. The strategy, structure, and competition of enterprises have mastered the intensity of domestic competition. Whether a sector is extremely competitive at home will affect the increase in productivity required for international competition [24].
- Government: The government’s position in competition has a great effect because it is directly responsible for improving the well-being of citizens and companies [25].
- Chance: Porter considered accidental events to be things that have nothing to do with the national situation [18]. Opportunistic events are usually improvements beyond the company’s control. Such incidents avoid the advantages of previously constituted competitors and create the potential for new national companies to replace them [24].
2.2. The Analytic Hierarchy Process (AHP)
3. Identifying the Subcategories (Determinants) Based on the Six Elements of the Diamond Model
3.1. Overview
3.2. Factor Condition
3.3. Demand Condition
- Export volume of photovoltaic products (F9): This reflects the demand situation of related foreign industries, which indirectly stimulates the development of the local photovoltaic industry [50].
3.4. Firm Strategy, Structure, and Rivalry
- Reasonable and effective development plans for photovoltaic power generation enterprises (F10): An enterprise should have a reasonable and effective renewable energy development plan and encourages consistent and stable strategic investment in photovoltaic power generation projects. The more effective the photovoltaic power generation enterprise’s strategy, the more dynamic and competitive the industry will be. The strategy, management, and planning of photovoltaic companies play an irreplaceable role in analyzing the competitiveness of the industry [51,52].
- Interest rate risk (F11): This refers to the loss caused by future interest rate changes in the photovoltaic industry. The interest rate is the price of funds. It refers to the adjustment lever of the money market capital supply and demand relationship. In China, the interest rate is often subject to the management behavior of the central bank [53].
- Grid-connected photovoltaic system (F12): A grid-connected photovoltaic system is a trend in the development of the global photovoltaic industry. Combining grid planning with power plant planning and formulating relevant technical standards are more conducive to the promotion and implementation of the photovoltaic industry [54,55].
3.5. Related and Support Industries
- Photovoltaic equipment manufacturing (F13): This refers to the manufacturing industry provided by the photovoltaic industry and related electronic industries that benefit from the photovoltaic industry. These related and support industries will have an impact on the photovoltaic industry [56].
- Photovoltaic power station (F14): Micro-grids, grid energy storage, and smart grids must be developed to ensure the safety, stability, and reliability of photovoltaic power stations [57].
- Tax incentives (F15): The renewable energy industry policy adopted by the Chinese government provides tax incentives for photovoltaic power generation projects, including tax exemptions and tax reductions [58]. Renewable-energy-related enterprises enjoy tax incentives in terms of equipment depreciation.
3.6. Government
- Policies issued by local governments (F16): The photovoltaic industry also relies on local government policies that affect demand prospects. These policies have a clear banner color and accelerate the commercialization of the photovoltaic industry to a certain extent, such as via bidding policies and the renewable portfolio standard [61].
- Tax reduction and exemption (F17): The three major taxes affecting China’s photovoltaic industry are value-added tax, customs duties, and corporate income tax. Among them, value-added tax and customs duties are exempted within the prescribed scope and corporate income tax rates vary according to region.
- Financial subsidy intensity (F18): The financial department arranges subsidies for special funds for renewable energy, including subsidies for grid power generation projects, independent power generation projects, photovoltaic technology industrialization demonstration projects, and photovoltaic power generation infrastructure construction.
- China’s central government photovoltaic power generation target (F19): This target can formulate long-term or short-term plans according to the needs and feasibility of different regions in China to provide government commitment indicators for consumers and producers in the photovoltaic industry [40].
- Feed-in tariff (F20): This policy can provide a fixed long-term price guarantee for local photovoltaic power generation companies [61].
3.7. Chance
- Opportunities brought by the 531 Photovoltaic New Deal (F21): This deal brings new opportunities to the photovoltaic industry. The photovoltaic industry can be market oriented, and the degree of dependence on government policies is reduced. It also brings heavy losses to some enterprises.
- Prospects of the photovoltaic industry (F22): Photovoltaic power generation shows promise in reducing environmental pressure, which is mainly reflected in the environmental capacity of the region and the environmental and social impacts related to the production and consumption of photovoltaic power generation.
4. Results
4.1. Hierarchical Structure
4.2. Relative Importance of the Six Categories
4.3. Relative Importance of Factor Condition Determinants
4.4. Relative Importance of Demand Condition Determinants
4.5. Relative Importance of Firm Strategy, Structure, and Rivalry Determinants
4.6. Relative Importance of Related and Support Industries Determinants
4.7. Relative Importance of Government Determinants
4.8. Relative Importance of Chance Determinants
4.9. Relative Importance of all Determinants
5. Discussion
5.1. Energy Supply Gap and the Development of China’s Photovoltaic Industry
5.2. Interest Rate Risk and the Development of China’s Photovoltaic Industry
5.3. Labor Cost and Acquiring Land
5.4. Newly Installed Capacity for Solar Photovoltaic Power Generation
5.5. Export Volume of Photovoltaic Products
6. Conclusions
Supplementary Materials
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Acknowledgments
Conflicts of Interest
References
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Factors | Main Method Used in the Literature | Supporting Indicators | Source |
---|---|---|---|
Factor condition | The diamond model; a revised diamond model; the diamond model and the revealed competitive comparative advantage index, trade specialization index analysis, and the international market share; the diamond model and the Granger causality test; the diamond model and the gear model | Natural resources, scientists, infrastructure, labor cost | [8,9,10,11,12,13,14,15] |
Demand condition | The diamond model; a revised diamond model; the diamond model and the revealed competitive comparative advantage index, trade specialization index analysis, and the international market share; the diamond model and the Granger causality test; the diamond model and the gear model | Market size, installed capacity | [8,9,10,11,13,14,15] |
Related and support industries | The diamond model; a revised diamond model; the diamond model and the revealed competitive comparative advantage index, trade specialization index analysis, and the international market share; the diamond model and the Granger causality test; the diamond model and the gear model | Photovoltaic manufacturing, grid construction, supporting firms | [8,9,10,11,13,14,15] |
Firm strategy, structure, and rivalry | The diamond model; a revised diamond model; the diamond model and the revealed competitive comparative advantage index, trade specialization index analysis, and the international market share; the diamond model and the gear model | Industry rules, industry competition, industry environment | [8,9,10,13,14,15] |
Government | A revised diamond model; the diamond model and the revealed competitive comparative advantage index, trade specialization index analysis, and the international market share; the diamond model and the gear model | Government support | [8,9,10,13,14,15] |
Chance | The diamond model and the revealed competitive comparative advantage index, trade specialization index analysis, and the international market share; the diamond model and the gear model | Industry challenges | [10,13,15] |
Intensity of Importance | Definition | Explanation |
---|---|---|
1 | Equal importance | Two activities contribute equally to the objective. |
3 | Moderate importance | Experience and judgment slightly favor one activity over another. |
5 | Strong importance | Experience and judgment strongly favor one activity over another. |
7 | Very strong or demonstrated importance | An activity is favored very strongly over another, indicating its dominance. |
9 | Extreme importance | The evidence favoring one activity over another is of the highest possible order. |
2, 4, 6, 8 | For compromise between the above values | Sometimes, one needs to interpolate a compromise judgment numerically. |
n | RI |
---|---|
1–2 | 0 |
3 | 0.58 |
4 | 0.90 |
5 | 1.12 |
6 | 1.24 |
7 | 1.32 |
Respondent | Categories | Factor Condition | Demand Condition | Firm Strategy, Structure, and Rivalry | Related and Support Industries | Government | Chance |
---|---|---|---|---|---|---|---|
No. 1 | 0.13 | 0.11 | 0.10 | 0.01 | 0.06 | 0.09 | 0.00 |
No. 2 | 0.10 | 0.14 | 0.07 | 0.02 | 0.08 | 0.07 | 0.00 |
No. 3 | 0.14 | 0.11 | 0.11 | 0.08 | 0.09 | 0.04 | 0.00 |
No. 4 | 0.14 | 0.14 | 0.08 | 0.06 | 0.01 | 0.12 | 0.00 |
No. 5 | 0.14 | 0.12 | 0.10 | 0.08 | 0.06 | 0.12 | 0.00 |
No. 6 | 0.14 | 0.14 | 0.04 | 0.09 | 0.02 | 0.09 | 0.00 |
No. 7 | 0.13 | 0.13 | 0.09 | 0.06 | 0.01 | 0.12 | 0.00 |
No. 8 | 0.11 | 0.14 | 0.10 | 0.02 | 0.04 | 0.08 | 0.00 |
No. 9 | 0.07 | 0.13 | 0.07 | 0.06 | 0.06 | 0.13 | 0.00 |
No. 10 | 0.13 | 0.11 | 0.03 | 0.02 | 0.06 | 0.14 | 0.00 |
No. 11 | 0.14 | 0.12 | 0.06 | 0.14 | 0.06 | 0.11 | 0.00 |
No. 12 | 0.10 | 0.14 | 0.03 | 0.06 | 0.02 | 0.11 | 0.00 |
No. 13 | 0.13 | 0.14 | 0.12 | 0.10 | 0.06 | 0.11 | 0.00 |
No. 14 | 0.13 | 0.13 | 0.07 | 0.08 | 0.06 | 0.09 | 0.00 |
No. 15 | 0.13 | 0.13 | 0.07 | 0.01 | 0.08 | 0.12 | 0.00 |
No. 16 | 0.11 | 0.14 | 0.12 | 0.06 | 0.04 | 0.11 | 0.00 |
No. 17 | 0.08 | 0.10 | 0.07 | 0.06 | 0.01 | 0.04 | 0.00 |
No. 18 | 0.13 | 0.13 | 0.09 | 0.06 | 0.02 | 0.07 | 0.00 |
No. 19 | 0.14 | 0.13 | 0.05 | 0.06 | 0.10 | 0.05 | 0.00 |
No. 20 | 0.13 | 0.14 | 0.08 | 0.02 | 0.06 | 0.10 | 0.00 |
No. 21 | 0.16 | 0.21 | 0.32 | 0.14 | 0.06 | 0.14 | 0.00 |
No. 22 | 0.22 | 0.22 | 0.01 | 0.00 | 0.09 | 0.09 | 0.00 |
No. 23 | 0.17 | 0.23 | 0.01 | 0.00 | 0.08 | 0.08 | 0.00 |
No. 24 | 0.16 | 0.33 | 0.17 | 0.14 | 0.06 | 0.13 | 0.00 |
Category | Subcategories (Determinants) |
---|---|
Factor condition | F1 natural resources |
F2 mineral resources reserves | |
F3 labor cost | |
F4 scientific research and technology | |
F5 acquiring land | |
Demand condition | F6 energy supply gap (environmental pressure) |
F7 newly installed capacity for solar photovoltaic power generation (market scale) | |
F8 photovoltaic power consumption capacity (local acceptance) | |
F9 export volume of photovoltaic products (foreign demand status) | |
Firm strategy, structure, and rivalry | F10 reasonable and effective development plans for photovoltaic power generation enterprises (a reasonably structured renewable energy development plan) |
F11 interest rate risk | |
F12 grid-connected photovoltaic system (external environmental conditions) | |
Related and support industries | F13 photovoltaic equipment manufacturing |
F14 photovoltaic power station | |
F15 tax incentives | |
Government | F16 policies issued by local governments (policy regulations, local government strategies) |
F17 tax reduction and exemption (exemption of customs duties and import value-added tax) | |
F18 financial subsidy intensity | |
F19 China’s central government photovoltaic power generation target | |
F20 feed-in tariff | |
Chance | F21 opportunities brought by the 531 Photovoltaic New Deal |
F22 prospects of the photovoltaic industry (low-carbon economy, clean energy) |
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Zhang, T.; Matsumoto, K.; Nakagawa, K. The Relative Importance of Determinants of the Solar Photovoltaic Industry in China: Analyses by the Diamond Model and the Analytic Hierarchy Process. Energies 2021, 14, 6600. https://doi.org/10.3390/en14206600
Zhang T, Matsumoto K, Nakagawa K. The Relative Importance of Determinants of the Solar Photovoltaic Industry in China: Analyses by the Diamond Model and the Analytic Hierarchy Process. Energies. 2021; 14(20):6600. https://doi.org/10.3390/en14206600
Chicago/Turabian StyleZhang, Tiantian, Ken’ichi Matsumoto, and Kei Nakagawa. 2021. "The Relative Importance of Determinants of the Solar Photovoltaic Industry in China: Analyses by the Diamond Model and the Analytic Hierarchy Process" Energies 14, no. 20: 6600. https://doi.org/10.3390/en14206600
APA StyleZhang, T., Matsumoto, K., & Nakagawa, K. (2021). The Relative Importance of Determinants of the Solar Photovoltaic Industry in China: Analyses by the Diamond Model and the Analytic Hierarchy Process. Energies, 14(20), 6600. https://doi.org/10.3390/en14206600