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Could the energy efficiency top runner program influence the production capacity utilization rate of Chinese energy intensive enterprises?

Year: 2025

Type: article

Abstract: The energy efficiency top unner program, as a policy measure in response to the national energy saving and emission reduction goals, has a profound impact on improving the production capacity utilization rate of Chinese energy intensive enterprises. Taking the energy efficiency top runner program as a quasi natural experiment, deploying time-varying Difference in Difference (DID) approach, this paper explorys the impact of the energy efficiency top runner program on the production capacity utilization rate of Chinese energy-intensive listed companies. The results show that, compared with non-top runner enterprises in energy intensive industries that have not implemented the top runner program, non-top runner enterprises in energy intensive industries with the implementation of the top runner program have a higher production capacity utilization rate. The mechanism analysis shows that the energy efficiency top runner program improves the production capacity utilization rate of Chinese energy intensive enterprises through the publicity and competitive forcing functions. The impact of the energy efficiency top runner program is more significant on non-top runner enterprises with higher energy management level, stronger energy technology innovation capability, and higher degree of energy digitalization. The implementation effect of the energy efficiency top runner program fluctuates with the changes in the social and policy environment, but overall, it shows a spiral-upward trend and has gradually strengthened in recent years. After parallel trends test, temporal and individual placebo test, considering policy impact, variable measurement, and fixed effects, the research conclusions remain robust. Based on the dynamic policy effects of the top runner program, this study not only reveals the mechanisms of the impact of the energy efficiency top runner program on the production capacity utilization rate of non-top runner enterprises, but also provides references for government regulatory policies.

Source: Energy Reports

DOI: 10.1016/j.egyr.2025.11.053

Authors: Tingting Zhou, Yizhi Li

Institution: Beijing International Studies University

Language: English

Topic: Energy Efficiency and Management

Subfield: Renewable Energy, Sustainability and the Environment

Field: Energy

Domain: Physical Sciences

SDGs: Industry, innovation and infrastructure, Affordable and clean energy, Decent work and economic growth, Climate action

Open Access status: gold

Estimated APC paid: $3,040