Among them, SDI is the index of China’s solar energy development, Wi is the weight of ith index, and Vi is the standardized value of ith index.
3. Empirical Analysis―Taking 54 Solar Energy Industry Listed Companies as an Example
3.1. Sample Selection and Data Sources
It is accessible to get the data of the solar energy industry listed companies, whose market sensitivity and policy sensitivity are high. The solar industry development index is measured by the sample. In the macro, it can be used as a barometer for the development of solar industry in China to reflect the development trend. Moreover, in the micro, it can reflect the development trend of a single enterprise. Based on the SFC industry and CITIC securities industry, this paper selects 54 solar energy industry listed companies from 323 listed companies in Shanghai and Shenzhen A shares as data samples.
The micro-data comes from the enterprise accounting annual report, and the macro-data come from the national research network and the national statistical yearbook.
3.2. Evaluation of the Solar Energy Industrial Development
3.2.1. Index Standardization
According to formula (1), the standardization of specific indicators is carried out.
3.2.2. Determination of Weight
The weight of index is determined by questionnaire from expert, including solar energy experts, economists, entrepreneurs, government officials and the public. There were nearly 200 questionnaires issued in 3 rounds, and only 59 questionnaires pass through consistency check. The geometric mean method was used to conduct the survey result statistics. The statistical results were input into the judgment matrix, and the weight of the secondary index is calculated by R software. The result is shown in Figure 1.
3.2.3. Evaluation of Index
According to the index system of the solar energy industrial development and the annual report data of 54 solar energy listed companies in China for 2010-2016 years, the development index of solar energy industry in 2011-2016 of China is calculated. In order to facilitate the horizontal comparison and more intuitionistic reflection all index and the influence on the overall development trend of the solar energy industry, the figures are drawn as follows.
Figure 1. Weight of solar energy industry index.
From Figure 2, we can figure out that the curves of comprehensive development index and the development capability are roughly the same.
From Figure 3, the development foundation is mainly influenced by industrial structure, while the industrial scale tends to be stable.
From Figure 4, the development environment is composed of three factors, macroeconomic, policy and market. The trend of macroeconomic and policy factors shows that the macroeconomic and policy support is inversely proportional. As a whole, the trend of the development environment is strongly influenced by the policy factors.
From Figure 5, the curves of the development capability and the financing capacity are almost similar. It can be said that the financing ability is the indicator of the development capability. There is a slight fluctuation in operating capacity, and its trend is improving. The same trend of investment capability and technological innovation capability has a certain pulling effect on development capability.
By measuring the development index of the solar energy listed companies and analyzing the calculation results, there are a couple of results as follow.
1) The development of solar energy industry is steadily improved under the positive influence of the industrial development foundation, the development environment and the capacity.
2) In the case of the overall slowdown in economic growth, the solar energy market has also been affected, but with the implementation of the supporting, which has a positive effect on the development of the solar industry in China, it also creates new opportunities for the future development.
3) While the enterprises are paying attention to the growth of scale, the
Figure 2. Comprehensive development index and its first index trend in 2011-2016.
Figure 3. Development foundation its secondary index trend in 2011-2016.
Figure 4. Development environment and its secondary index trend in 2011-2016.
Figure 5. Development capacity and its secondary index trend in 2011-2016.
enterprises should also strengthen the fine management and improve their operating ability. Meanwhile, the national policy support should be used to strengthen the technological innovation and its own development ability.
To sum up, the sound development of the solar energy industry not only needs to strengthen the fine management themselves, improve the technological innovation, but also needs a good environment for development. Only by the common role of both inside and outside can the solar energy industry in China continue to move forward.
National Social and Science Fund―Research on green development evaluation and planning system based on “total carbon” (18BJY079); Beijing Financial project―Study on optimization and upgrading of traditional high energy consumption industry and cultivation of new green industry in Beijing, Tianjin and Hebei (PXM2018_178216_000002_00299336_FCG-Innovation Engineering-Pre-research).
Conflicts of Interest
The authors declare no conflicts of interest regarding the publication of this paper.
 Ministry of Planning and Development of the China Electric Power Enterprise Federation (2017) National Electricity Supply and Demand Situation Analysis and Forecast Report in 2016-2017. Electrical Appliance Industry, No. 02, 11-16.
 Yang, J. and Liu, Y.C. (2012) Research on the Policy Support of China’s New Energy Industry—Based on the Analysis of the Price Theory and Practice Based on the Development of Solar Photovoltaic. Wind Power and New Energy Automobile Industry, No. 5, 72-73.
 Teng, F., Liu, Z.G., Liu, Y., et al. (2013) The Technological Innovation Ability and Competitive Situation of China’s Solar Energy Industry—Based on the Perspective of Patent Information Analysis. Economic Problems, No. 11, 84-90.
 Hu, X.H., Chen, L.Z. and Jiang, S.Y. (2015) Strategic Emerging Industries Encountered the Impact and Prevention of Trade Restrictions Measures—Taking the Solar Cell Industry as an Example. Economic Problems, No. 2, 133-139.
 Wang, J., Lu, C., Guo, Z., et al. (2015) An Empirical Study on the Quality Development Index of Multinational Manufacturing Industry and Its Changing Law. Progress and Countermeasures in Science and Technology, No. 18, 43-50.
 Yang, Q., Duan, X.J., Zhang, W., et al. (2014) Analysis of the Development of the Development Level of China’s High and New Technology Industry and Analysis of Its Influencing Factors. Resources and Environment of the Yangtze River Basin, 23, 1649-1658.