Photovoltaic industry investment and financing, including the production of the product and the end of the investment and financing of the two parts, this paper focuses on the analysis of the part. It can be subdivided into two parts, which is the investment and financing of the construction period and the refinancing of the holding period.
The performance and problems of the investment and financing means of the construction period of the photovoltaic terminal.
Investment and financing in the construction period can be divided into two parts, the traditional financial means and the innovative financial means.
1, the performance and problems of the traditional financial instruments in the investment and financing market in the construction period of the photovoltaic terminal.
Financial leasing: the existing successful cases to prove this financial method is applicable in PV terminal market, the successful case is the United States of Solarcity and Chinese "green treasure". Unfortunately, these two cases are only the success of the initiative to adopt the financial leasing of photovoltaic enterprises, rather than the financial institutions to provide financial leasing services specifically for the success of the financial leasing service. Especially the "green treasure" on behalf of the lease means in the photovoltaic industry will be even more successful is an exception, because of its success, only is a result of social influence and resource mobilization force focused on the outbreak of the founder, PV entrepreneur Peng Xiaofeng, the other is difficult to replicate home photovoltaic business success stories.
Financial Trust: due to the comparison of other debt financing, the trust has the advantages of equity investment in the PV terminal market, thereby laying the special competitive position in the market for the PV terminal market. Even more gratifying is that the current trust companies in the PV terminal market, some innovative thinking and mode to break through. For example, Great Britain trust with the controlling shareholder may create a monopoly in the power grid with photovoltaic power plants in the future income right for service innovation of risk control, such as Sichuan trust with strategic investment of PV terminal market for professional enterprise financing service idea.
Industry fund: This is a financial means in the PV terminal market, wake up early, late. As early as in 2013, China PV power plant construction has just started, the investment institutions, photovoltaic enterprises to set up a high profile of the industry fund, the scale of a more than a shout, but so far the industry has not seen a large-scale, continuous sale of the guiding significance of the industry fund. Old red thought, the possibility of such funds in a short period of time is not. The direct reason: the existing fund is the photovoltaic companies for their project financing and, contrary to basic principles of joint investment fund; deep-seated reasons: restricted by reason of industry environment, technological progress, both ground and roof or agricultural light complementary PV terminal market has not yet formed a growth period, investment income model. There is no large-scale, continuous development of the investment model, where to scale, sustained development of the industry fund?
Bond products: This is an interesting and very illustrative of the problem of financial phenomena. The phenomenon is that: in 2012 before the integration of the photovoltaic industry, large photovoltaic Enterprise Inc bonds, medium-term notes issued continuously, in 2014 the photovoltaic industry into the recovery period, in addition to the overseas listing Corporation to issue bonds outside the domestic enterprises, domestic enterprises have not seen bond financing behavior. The problem is that this is the inevitable result of the traditional financial thinking, which is mainly controlled by the assets mortgage as the main control risk.