Abstract: Exploring new energy substitution for the traditional petrochemical energy and optimizing the allocation of new energy utilization by the matching of technology factors has become the trend of social and economic development. This paper established the energy substitution game model to carry out the theoretical deduction, with the empirical study based on the provincial panel data from 2008 to 2016 for testing the relationship between technology factor matching and the new energy utilization. The results show, in the energy market, the total elements match the saddle point to optimize the utilization of new energy; technology factor matching is the driving force to intellectual capital and R&D investment growth, raising new energy production, reducing new energy prices, and positively adjusting new energy efficiency; the efficiency of new energy use has spatial dependency, from the point of view of technology factor matching, technology transfer and technology import will promote the utilization of new energy, while industrial agglomeration has a significant negative effect, R&D personnel input does not have a significant impact on it; in the relatively developed areas of foreign investment, the utilization of new energy will be accelerated, but the introduction of technology between regions will impede the use of new local energy. In order to optimize the utilization of new energy, we should grasp the proportion of the input adjustment of each factor and rationally configure the matching technical elements.

Key words: energy substitution, technology factor, new energy utilization, factor match