A Choice on the Wind: A Study on the Impact of the Development Direction of New Energy Products on Market Investment Decisions

With the global “dual carbon” green energy transition, green finance is advocated worldwide. As a core sector of new energy, the photovoltaic industry’s development has also drawn much attention in the capital market. This article systematically studies the impact of the photovoltaic industry on investment decisions from three dimensions: enterprises, governments, and consumers respectively. By using the panel regression model and based on literature reviews and empirical data analysis, questions are raised around three core aspects: the total revenue structure of enterprises, policy density, and the proportion of revenue from product spending. This article finds that all three core dimensions have a certain positive impact on investment decisions to a certain extent. Among them, while policy density amplifies investment willingness, it may also generate phased investment risks. In terms of policy recommendations, this article suggests that a policy optimization system with high orientation, high transparency, high supervision and high controllability can be established to reduce the negative impacts brought about by market instability. In addition, this article also refines the scope of considerations for green finance in the market from a micro perspective, providing referenceable suggestions for policy optimization and market investment strategies.