Towards a sustainable energy future: Factors affecting solar-hydrogen energy production in China

Abstract

Literature reviews and interviews with experts showed that the solar-hydrogen energy market is newly established in China. The development of the solar-hydrogen energy market is a dynamic process influenced by consumers but mainly driven by producers. Thus, the relationships between solar-hydrogen energy production and consumption depend on the input-output relationship of the solar-hydrogen energy industry (SHEI). This paper used Partial Least Square – Structural Equation Model (PLS-SEM) to study the input-output relationship, the mediating effects, and the moderating effects of stakeholder characteristics. By checking the financial statements of Chinese SHEI listed companies from 2011 to 2019, we found that the fixed assets, operating costs, and R&D expenditures, total assets, and intangible assets of SHEI companies increased by year. Input had a significantly positive association with the output of Chinese SHEI companies. SHEI companies’ age, total assets, and intangible assets had significant mediating effects. The location, equity owner, and equity concentration of SHEI companies had significant moderating effects. As suggestions, it is important to construct fuel or hydrogen replenishment infrastructure, to improve cost-effectiveness and safety. Deep-level analysis of the input-output relationship, as well as possible mediating and moderating effects may also be beneficial.