全球太陽光電產業自2011年以來，受到各國太陽能貿易壁壘影響以及中國大陸廠商的崛起，導致價格競爭越來越激烈，太陽能廠商的營運狀況變得越來越困難。在2018年美國貿易保護主義政策的影響下，貿易關稅的執行也大幅提高了廠商的成本，此外，中國大陸531新政的管制指令也對全球太陽光電產業造成了影響，各國太陽能廠商經常被迫進行收購和重整，同時，台灣太陽能業者太陽能矽晶圓和電池廠亦難以擺脫虧損局面，如果不盡快整合，很難對抗國際大廠。
因此，同業成立「太陽能三合一大聯盟」組成公司，本研究的目的在於透過次級資料分析法和參與觀察法，從台灣太陽能產業的發展歷程出發，探討個案公司在太陽能市場上進行水平整合和垂直整合方面的公司策略，依照水平整合的優勢使規模擴大後，如何和競爭對手進行攻防，又與下游垂直整合後面臨的合併綜效及反綜效，以及整合後的商業模式，並提出合併後個案公司的困境和因應之道。同時，運用策略及動態競爭理論，找出個案公司的競爭優勢，提出未來的發展方向。

Since 2011, the global photovoltaic industry has been affected by trade barriers of solar energy in various countries and the rise of mainland Chinese manufacturers. This has led to increasingly fierce price competition and a more difficult operating environment for solar energy companies. In 2018, under the influence of the US trade protectionist policy, tariffs increased costs considerably for manufacturers. Moreover, the new policy guidelines introduced in China's mainland further impacted the global photovoltaic industry, forcing solar energy companies around the world to restructure and consolidate their businesses. At the same time, Taiwanese solar industry players, including silicon wafer and solar cell manufacturers, have struggled to break away from their losses. Without rapid integration, international companies may be difficult to compete against.
As a result, industry players established the "Solar Energy Triple Alliance" comprising of several companies. The purpose of this study is to analyze the development process of Taiwan's solar energy industry through secondary data analysis and participant observation methods. It explores the case company's horizontal and vertical integration strategies in the solar energy market. Following the expansion of the company's scale with the advantages of horizontal integration, the study investigates how it competes with rivals while dealing with the synergy effects and reverse synergies faced after vertical integration with downstream businesses. The study also examines the integrated business model and proposes solutions for the challenges faced by the case company after the merger. In addition, using strategic and dynamic competition theories, the research identifies the company's competitive advantages and proposes future development directions.

中文文獻
王燕軍、邱宏偉（2013），書名：企業併購策略與實務，出版商：經濟科學出版社。
林明村（2012），太陽能光電系統在屋頂上的設計與應用，太陽能光電技術研討會論文集，第1-10頁。
陳怡靜（2021），太陽光電產業之發展趨勢與展望－淨零碳需求下的市場挑戰與突破，工研院產科國際所。
陳怡靜、楊舒喻（2022），我國太陽光電產業回顧與展望，工業技術研究院。
陳昭良（2020），動態競爭決勝力-運用宏觀到微觀心法矩陣突破變局，出版商：商周出版，第191-193頁
陳家豪（2019），太陽光電產業三大趨勢，工業技術研究院。
陳聖儒（2017），太陽能光電案場的風險評估，經濟研究第54期，第89-102頁。
黃寶賜（2021），台灣太陽能產業興衰與發展之研究，碩士論文，國立中山大學。
楊仁壽、卓秀足（2017），組織理論與管理：個案、衡量與產業應用，出版商：雙葉書廊。
 
英文文獻
Alexander J. H. (2002), “A framework for solar energy feasibility in developing countries.”, Renewable and Sustainable Energy Reviews,6(4),381-398.
Alireza F. (2012), “Assessment of criteria for selecting solar photovoltaic (PV) power plant investment sites.”, Renewable and Sustainable Energy Reviews,16(8),6200-6205.
Beliz Ozorhon (2018), “Green energy investments: A review of policy and investment strategies.”, Renewable and Sustainable Energy Reviews, 81(1),1851-1860.
Clayton M. Christensen, Erik A. Roth and Scott D. Anthony (2004), “Seeing What's Next: Using Theories of Innovation to Predict Industry Change.”, Harvard Business Review Press
Franklin Allen, Richard A. Brealey and Stewart C. Myers (2019), “Principles of Corporate Finance.”, McGraw Hill.
Osterwalder, A. and Pigneur, Y. (2010), “Business Model Generation”, John Wiley & Sons.
參考網站
https://money.udn.com/money/story/5612/6892696
https://esg.gvm.com.tw/article/18646
https://www.yunjoy.tw/index.php/study/organization/114-organizational-ecology-theory