The 531 New Deal has gradually transitioned the photovoltaic market policy from industrial policy to competition policy. This paper considers the two policy orientations of the photovoltaic supply chain: industrial policy and competition policy. Based on differential game theory, the profit models of photovoltaic supply chain entities under the two policy orientations are constructed, and the optimal solutions of each model are solved. The research finds that policy guidance factors affect the strategic choices of photovoltaic supply chain entities; Compared to industrial policies, competition policy orientation can increase the profits of various entities in the photovoltaic supply chain to varying degrees.