Corporate business expansion and inefficient investment—understanding the barriers in clean energy supply chain
摘要
The pressure of climate change is propelling the advancement of low-carbon supply chains, with the provision of clean energy serving as the linchpin for industrial decarbonization. The imperative lies in guiding companies to expand their clean energy business, underscoring the urgent need to comprehend industry barriers. In this context, we unveil industry barriers through the "inverted U" relationship between clean energy business expansion and inefficient investment. Furthermore, we examine potential obstacles from three innovation perspectives: (1) The large influx of entrants has led to significant supply chain docking barriers, among which with greater market power have the advantage of overcoming this. (2) China's energy system characteristics create invisible industrial barriers for non-state-owned enterprises, despite their lower inefficient investment compared to state-owned enterprises. (3) American-listed companies with varying environmental regulations also encounter obstacles in expanding their clean energy business. Further analysis of the "anti-dumping and countervailing" events reveals that international trade barriers exacerbate the inefficient investment of Chinese companies in expanding their clean energy business while mitigating it for American companies. Based on these findings, we propose policy recommendations focusing on sustainable supply chains, social equity, and systemic risk avoidance to assist the Chinese government in guiding industry development and provide insights into other countries' efforts toward developing clean energy.