Photovoltaic (PV) industry is strategically important in China. This work deduced the analytical paradigm of basic logical framework F-SCP, followed by analysis on specific path for financial support to industrial development of PV industry. Then the work applied DEA model and logistic model to two-stage empirical research, analyzing the efficiency of financial support to the development of PV industry in China. Conclusion on financial support to PV industry can be divided in two parts: for support path, the financial support has imperfect subject and unreasonable direction; for support efficiency, unreasonable debt financing scale and high market risk lead to inefficient financial support. In the end, it was proposed that structure optimization and method innovation for financial support, as well as the enhancement of industrial competitiveness, are highly required to support the development of PV industry.