Key investment points
Cecep Solar Energy Co.Ltd(000591) system is required for new buildings
In October 2021, the Ministry of housing and urban rural development issued an announcement approving the general code for energy efficiency and renewable energy utilization in buildings as a national standard, which will be implemented from April 1, 2022. The issued code is a mandatory engineering construction code, which must be strictly implemented. It clearly requires that new buildings must be equipped with photovoltaic systems. Previously, the Ministry of housing and urban rural development issued the notice on the development plan of building energy efficiency and green buildings in the 14th five year plan, It is proposed that during the 14th Five Year Plan period, building photovoltaic will add 50gw of installed capacity. The replacement rate of renewable energy in urban buildings reached 8%, and the proportion of power consumption in building energy consumption exceeded 55%. At present, there are two ways to combine building and photovoltaic, namely bapv (building attached photovoltaic system) and BIPV (photovoltaic building integration). BIPV not only has the function of power generation, but also has the function of building components and building materials to improve the beauty of the building. Compared with BIPV, bapv will increase the building load and affect the overall effect of the building. It is expected that BIPV will usher in rapid development in the future.
Focus on the enterprises with leading layout. BIPV will drive the demand for micro inverters. Jingke energy showed its own color curtain wall products and color steel tile solutions at the photovoltaic SNEC exhibition in 2021. On April 12, Jingke energy will hold a new BIPV conference, Jiangsu Goodwe Power Supply Technology Co.Ltd(688390) photoelectric building materials products were officially released in March, Risen Energy Co.Ltd(300118) shared the latest BIPV products - super energy roof and super energy tile at the conference on March 29, Longji has many series of BIPV products, such as "Longding", "Longxing" and "Longjin". The traditional PV modules are in series, which is easy to form high voltage on the DC side and has potential fire safety hazards. In the BIPV scenario, people are in close contact with the PV system. For further improvement of safety requirements, solutions such as shutdown or micro inverter can be used to realize module level shutdown. Jingke energy clearly mentioned its own color curtain wall products. In terms of fire protection performance, Jingke products reach the class a fire rating. You can choose to add fast shutdown equipment to ensure rapid voltage reduction and current reduction within 30s, so as to fully ensure the safety of photovoltaic curtain wall system. BIPV micro inverter can better realize the module unit design and standardized installation of building material photovoltaic modules in the application of BIPV. Due to the use of low-voltage parallel technology, the danger of electric shock and potential fire hazards are eliminated. The promotion of BIPV will help drive the demand for micro inverter. It is suggested to pay attention to Hemai Co., Ltd.
Some leading enterprises have laid out on BIPV and have the first mover advantage. Recommend Longi Green Energy Technology Co.Ltd(601012) , Jingke energy, and pay attention to Jiangsu Goodwe Power Supply Technology Co.Ltd(688390) , Risen Energy Co.Ltd(300118) . Continue to maintain the "overweight" rating for the power equipment industry.
Risk tips
Risk of sharp price reduction of products, sharp rise in the price of raw materials, lower than expected downstream demand, risk of intensified industry competition, systemic risk of the market, performance failure of recommended companies, etc.
