The Impact of Technological Innovation on the Development of China's Photovoltaic New Energy Industry

Based on a literature review, this paper theoretically analyses the impact mechanism and mediating mechanisms of technological innovation on the development of the photovoltaic industry, and conducts an empirical analysis on the degree of impact and mediating mechanisms. The research indicates that technological innovation has a significant positive impact on the development of the photovoltaic industry. The improvement of technological innovation level can significantly increase the annual power generation of the photovoltaic industry. Cloud cover, illumination intensity, duration of illumination, temperature, and GDP are significant factors affecting the development of China's photovoltaic industry. Heterogeneity analysis reveals that different types of technological innovation have varying impacts on the development of the photovoltaic industry. The mediating mechanism test shows that technological innovation positively influences environmental regulation, which in turn has a significant positive effect on the development of the photovoltaic industry. Technological innovation enhances production efficiency, which promotes the sustained development of the photovoltaic industry. Technological innovation significantly expands the market size, which in turn increases the market demand for photovoltaic products, promoting the rapid development of the photovoltaic industry.