The technological system of production and innovation: The case of photovoltaic technology in China

•Studying production and innovation system of Photovoltaics in China over 1995–2017.•Utilizing three analytical levels: institutions, market dynamics, and innovation.•Illustrating the interactions between these levels and their impact on environment.•Recognizing 4 stages of development influenced by market dynamics and public policy.•Domestic deployment in latest stage had positive environmental and innovative effects.