Industry perspective:
New energy power generation: Shandong subsidizes offshore wind power, and the development of offshore wind power can be expected. Shandong subsidizes offshore wind power. Shandong issued the second batch of policy list, focusing on key areas such as offshore wind power, offshore photovoltaic and hydrogen energy. It proposed that the provincial finance should give subsidies of 800 yuan, 500 yuan and 300 yuan per kilowatt for the offshore wind power projects completed and connected to the grid in the 14th five year plan from 2022 to 2024, and the subsidy scale should not exceed 2 million kilowatts, 3.4 million kilowatts and 1.6 million kilowatts respectively. Since 2022, the central subsidy for offshore wind power has officially withdrawn. Although the cost of offshore wind turbine has decreased significantly in recent two years, the overall construction cost is still high. The subsidy of local government will ensure the rapid development of offshore wind power during the 14th Five Year Plan period.
Distributed distribution and storage: Hebei proposes distributed photovoltaic distribution and storage to increase the certainty of high demand for distribution and storage. The guiding code for the construction of roof distributed photovoltaic (Trial) recently issued by Hebei provincial energy bureau puts forward that the roof distributed photovoltaic project will be developed and constructed gradually in the way of “photovoltaic + energy storage”, and the energy storage will be configured based on the principle of ensuring the safe operation of power grid and the safety of power supply and consumption of users, taking into account the load characteristics and power quality requirements; Self construction, co construction or leasing can be selected to flexibly carry out supporting energy storage construction. With the continuous expansion of distributed installed capacity, some regions began to encourage or require distributed distribution and storage. Hebei, Shandong, Henan and other places successively issued relevant documents and put forward the construction scheme of “distributed photovoltaic + energy storage”. “Whole county promotion” will enable household photovoltaic to realize centralized and systematic operation, and can carry out the construction of energy storage supporting facilities, realize comprehensive planning and unified dispatching, reduce capacity allocation and cost; The energy storage system under the whole county mode is also easier to explore a new profit model of peak valley electricity price arbitrage and auxiliary services. We believe that under the distributed “whole county promotion” mode, the unit cost of distributed generation and energy storage system will be lower than that of traditional household mode, which provides more space for distribution and storage economically, and distributed distribution and storage is expected to usher in large-scale development.
Energy storage: the construction of pumped storage is accelerated. The east wind policy drives the construction of pumped storage to accelerate. The state has successively issued a number of policies to support the development of pumped storage industry. The state is stepping up the supervision of the construction process of pumped storage projects. Pumped storage also takes the ride of large-scale wind power and photovoltaic, and the development momentum is fierce. Driven by the policy, all provinces and cities across the country quickly laid out pumped storage projects. Since January 2022, 20 provinces have announced the list of provincial key construction projects in 2022. According to the statistics of the international energy network, among the key projects announced by China’s provinces, the cumulative installed capacity of pumped storage has reached 104.3gw, and the cumulative investment has exceeded 600 billion. From the perspective of the investors of pumped storage in China, the State Grid and China Southern Power Grid are the main forces of pumped storage construction, accounting for more than 90% of the market.
Important industry information:
Carbon peak carbon neutralization leading group office: crack down on carbon emission data fraud. On the afternoon of April 8, the leading group office of carbon peak carbon neutralization held a teleconference to inform the problems related to the falsification of carbon market data, deploy to crack down on the falsification of carbon emission data and promote the healthy and orderly development of carbon market. Hu Zucai, deputy director of the national development and Reform Commission, attended the meeting and delivered a speech. Ye min, Vice Minister of the Ministry of ecological environment, briefed on relevant issues. Su Wei, Deputy Secretary General of the national development and Reform Commission, presided over the meeting.
Market performance in one week:
Industry performance: among the 28 Shenwan level industries, the power equipment industry fell 4.68%, ranking 27th; The utility industry fell 0.48% this week, ranking ninth.
Performance of sub sectors: among the sub sectors, hydropower generation, comprehensive power equipment manufacturers and gas III ranked among the top three, with increases of 3.81%, 0.00% and 0.76% respectively; Photovoltaic power generation, distribution equipment and photovoltaic processing equipment ranked the last three, with – 6.7%, – 6.66% and – 5.75% respectively.
Growth of individual stocks: Among Listed Companies in the power and energy industry, Tellhow Sci-Tech Co.Ltd(600590) , Galaxy Biomedical Investment Co.Ltd(000806) , Huaneng Lancang River Hydropower Inc(600025) , Yunnan Wenshan Electric Power Co.Ltd(600995) , Ming Yang Smart Energy Group Limited(601615) rose in the top five, rising 14.18%, 12.62%, 12.48%, 11.52% and 11.52% respectively.
