Research on the Realization Path of China Multi-Agent Value Co-Creation in New Energy Microgrids-Based on fsQCA Method

As China attaches great importance to carbon emissions, photovoltaic power generation (PV) microgrids (MG) have experienced unprecedented development in recent years. However, with the decline of government subsidies, the profit-making effect of photovoltaic power generation has become smaller, and investment in photovoltaics and microgrids has become unsustainable. Therefore, improving the value of new energy microgrid stakeholders is an important way to achieve its sustainable development, especially in a subsidy-free environment. Based on the theory of value co-creation, this paper takes 60 microgrids in China as research cases and uses the Fuzzy-set Qualitative Comparative Analysis (fsQCA) method to explore the input factors of multi-subjects in new energy microgrids and the implementation paths that drive value co-creation. The research results show that there are three ways to realize the value co-creation in new energy microgrids, and reducing the initial cost of capital use can significantly improve the operational sustainability of new energy microgrids. Hard service investment, construction investment, maintenance investment, energy storage investment, financial support is the path with the strongest explanatory power (coverage 0.443). No hard service investment, no construction investment, no maintenance investment, energy storage investment, financial support the coverage is low (0.338), but the consistency is high, and it is suitable for specific scenarios (such as when policy support is insufficient).