This week, the photovoltaic sector continued the callback trend, creating follow-up rising space
The power equipment (Shenwan) index fell 8.31% this week, ranking last in the whole industry. Among them, the photovoltaic auxiliary materials (Shenwan) index fell by 12.68%, ranking the last in the sub industry. Photovoltaic sector stocks fell significantly. Among them, the weekly decline of silicon related stocks was about 5%. Support, EVA related stocks fell significantly. Resumption of trading: the rise and fall of the sector in the past one month and three months. The photovoltaic equipment (Shenwan) index fell by 10% and 6% respectively in the past one month and three months. In the past month, the decline of battery, energy storage and support was relatively large, and the performance of glass and silicon materials was relatively good. In the past three months, the growth of battery, glass and components was relatively good.
Recent plate fluctuations are large, mainly due to the uncertainty of installed capacity in December and the doubts of the market on the support of new energy policies. We believe that the goal of “double carbon” is unswerving. Especially in the era of parity, photovoltaic demand comes from market-oriented behavior, and the direction of policy support remains unchanged.
With the continuous favorable policies, rural distribution will become the growth point of new installed capacity
On May 5, the national energy administration, the Ministry of agriculture and rural areas and the National Bureau of Rural Revitalization jointly issued the implementation opinions on accelerating the transformation and development of rural energy and helping rural revitalization. The document made it clear that by 2025, a number of green and low-carbon pilot projects for rural energy will be completed, and the proportion of wind power, Cecep Solar Energy Co.Ltd(000591) and other rural energy will continue to increase; Support areas with resource conditions, especially key counties for rural revitalization, take the county as the unit, adopt the mode of “company + village + farmer”, use farmers\’ idle land and farm house roof to build distributed wind power and photovoltaic power generation, allocate a certain proportion of energy storage, spontaneous self use, local consumption, surplus power on the Internet, and farmers can obtain stable rental or electricity income.
We believe that the national policy of supporting rural Distributed installation is conducive to accelerating the layout of household distributed photovoltaic in the majority of counties and towns, and benefiting the distributed energy storage installation. Since 2021, China’s distributed installed capacity has maintained rapid growth. At present, the proportion of distributed installed capacity is 11.46%. It is expected that 2022 will be a big year for distributed installed capacity.
Investment advice
It is recommended to pay attention to the stocks with obvious correction in the near future and will be favorable by the distributed policy, such as Ginlong Technologies Co.Ltd(300763) , Ningbo Deye Technology Co.Ltd(605117) , Sungrow Power Supply Co.Ltd(300274) , Jiangsu Goodwe Power Supply Technology Co.Ltd(688390) in the inverter sector and Pylon Technologies Co.Ltd(688063) in the energy storage sector.
Risk tips
The installed capacity of the industry was less than expected, the epidemic intensified, and the global economy was seriously affected.
