Abstract: This study analyzes the cointegration relationship of low carbon technology innovation and financial support from three aspects： the government, enterprises and financial institutions based on the shanxi coal industry, according to the promoting mechanism and existing problems. The conclusions of this paper are as follows：Government funds, enterprise funds in the coal based industry’s scientific and technological innovation in the development and industrialization stage has played a positive role in stimulating；Financial institutions loans has played a positive role in ?achievement transformation stage. Diversified multi-level innovation investment system should be established as soon as possible ,with fiscal funds as the guide, corporate investment as the main body, financial institutions loans to support, venture capital as the important development direction and preferential policies to support.