Further promote the energy revolution and accelerate the construction of an energy power
The central economic work conference in 2021 pointed out the direction for China’s medium and long-term new energy development: new energy entered a new development stage, deeply promoted the energy revolution and accelerated the construction of an energy power. The new development stage is reflected in: electric vehicles, photovoltaic and wind power are at the beginning of comprehensive marketization and in the positive feedback stage of accelerated penetration. The energy revolution focuses on increasing the proportion of new energy consumption, promoting the optimal combination of coal and new energy, and reducing carbon emissions. The significance of energy power lies in: the importance of the new energy industry chain is further improved, and the premise of “the only way for an automobile power is new energy vehicles” has created the last round of big market. This time, it is emphasized that an energy power will further consolidate the foundation and trend of new energy development.
Benefit the core links in the middle and lower reaches, especially the construction of downstream clean energy power stations in the short term
Benefit the core links in the middle and lower reaches, especially the construction of downstream clean energy power stations in the short term. The meeting proposed that the new renewable energy and raw material energy consumption should not be included in the total energy consumption control, create conditions to realize the transformation from “double control” of energy consumption to “double control” of total carbon emission and intensity as soon as possible, and accelerate the formation of an incentive and restraint mechanism for reducing pollution and carbon. From the upstream, the optimization of raw material energy consumption will promote the supply of raw materials in the middle and upper reaches. We have previously judged that the photovoltaic industry chain has entered the price decline cycle, and it is expected that the electric vehicle industry chain will also enter the price decline cycle in 2022. This upstream raw material energy consumption optimization will also promote this trend; From the downstream, if renewable energy is not included in the total energy consumption control, the demand for the construction of clean energy power stations will be greatly increased; All kinds of manufacturing industries will increase their own clean energy power supply.
Favorable to the energy storage industry, the combination of scenery and storage is expected to be further promoted
Favorable to the energy storage industry, the combination of scenery and storage is expected to be further promoted. The meeting proposed that the withdrawal of traditional energy should be based on the safe and reliable substitution of new energy, and pointed out that the future construction of new energy should pay attention to reliability and substitutability, and improve the power quality of new energy. Photovoltaic wind power has caused great pressure to the power grid due to its unstable power generation and peak staggering, and the phenomenon of abandoning wind and light is more serious. Energy storage combined with photovoltaic wind power generation will improve the stability and absorption capacity of new energy power supply. The relevant contents of this meeting will further improve the position of energy storage in new energy construction, and the core links in the energy storage industry chain, such as cell, inverter and system integrator, are expected to usher in new development opportunities.
Pay attention to post cycle links such as power grid, and pay attention to the flexibility brought by short-term reform and medium and long-term technological innovation
Pay attention to post cycle links such as power grid, and pay attention to the flexibility brought by short-term reform and medium and long-term technological innovation. The meeting proposed to complete the three-year action task of state-owned enterprise reform and steadily promote the reform of natural monopoly industries such as power grid, which indicates that the power market-oriented reform will be further accelerated. In addition, the basis for the rapid increase in the proportion of new energy is that the power grid is stronger and more intelligent. With the acceleration of the construction of new power systems of the State Grid and the South grid, excellent private power equipment companies will usher in a new rising cycle. The meeting also proposed to promote the reform of scientific research institutes and strengthen the dominant position of enterprise innovation. We believe that in the peak period of new energy supply and demand in the next year or two, the penetration of new technologies brought by industrial innovation will accelerate, which is expected to create some new leading companies.
Risk tip: the policy promotion is not as expected, the competition in the new energy market is intensified, and the price of raw materials fluctuates sharply
