New energy vehicles: the landing of lithium exploration rights, strengthening four innovations and continuously building core barriers. According to catl official wechat, Yichun times, a Contemporary Amperex Technology Co.Limited(300750) subsidiary, won the exploration right of jianxiawo mining area in Jiangxi Province with an offer of 865 million yuan on April 20. According to the mineral survey report of Jiangxi Province, it is inferred that the amount of associated lithium metal oxide is 2.657 million tons. According to the conversion coefficient of lithium oxide and LCE is 1:2.5, the equivalent LCE reserve of jianxiawo mining area is about 6.5 million tons. Since 2021, the cost of upstream raw materials has continued to rise, and the cost of battery enterprises has been under pressure Contemporary Amperex Technology Co.Limited(300750) through resource development in cooperation with local governments, improve the ability to fight against rising costs. The company strengthened four major innovations, built core barriers, and continued to promote technological innovation by building the advantages of the whole industrial chain of resources (lithium nickel phosphorus fluorine) – materials (lithium iron phosphate / high nickel ternary / electrolyte / diaphragm) – battery system (CTP / CTC).
Photovoltaic: from January to March, China’s installed capacity increased by 148%, and the strong demand in Europe led to the acceleration of inverter / module export. In China, according to the data of the national energy administration, the new installed capacity of 3.36gw reached 2.36gw, a year-on-year increase of + 13%; The newly installed capacity of 1-3 kV reached 13.21gw, a year-on-year increase of + 148%; It is estimated that the new installed capacity of PV in China is expected to reach 80 ~ 100gw in 22 years Overseas, solarzoom data show that the inverter exported US $462 million in March, with a year-on-year increase of + 51% and a month on month increase of + 34%. The substantial increase in exports was mainly due to strong demand in Europe. In March, the export of Battery + components was US $4.107 billion, with a year-on-year increase of + 89% and a month on month increase of + 1%. With the price rise of traditional energy, the Russian Ukrainian war and the landing of EU carbon tariffs, countries have accelerated the pace of energy transformation. It is expected that the new installed capacity of global photovoltaic is expected to reach 250gw in 22 years, a year-on-year increase of + 47%.
Wind power: the market pattern of sea wind is concentrated, and the new installed capacity of wind power increased year-on-year in the first quarter. In 2021, China’s wind power installed capacity reached a new high, with a new installed capacity of 55.9gw. Among them, the pattern of complete machine manufacturers in Haifeng market is concentrated, and the top 3 enterprises of Haifeng’s new installed capacity are Shanghai Electric Wind Power Group Co.Ltd(688660) (4.2gw), Ming Yang Smart Energy Group Limited(601615) (3.8gw) and Xinjiang Goldwind Science And Technology Co.Ltd(002202) (2.4gw). In the first quarter of 2022, the newly installed capacity of wind power increased by 50.2% year-on-year, and the prosperity of the track continued. Sea breeze is still the focus of future wind power development. In 2021, the installed capacity of Cr5 in sea breeze market is about 92.4%, and the pattern concentration in China is high.
New power system: the establishment of energy storage cost dredging mechanism is accelerated, and the construction of new power system still needs to consolidate the bottom-up guarantee role of coal and electricity. The national standing committee meeting held on April 20 pointed out that the optimization of energy structure should be supported by economic and social development and take multiple measures at the same time: first, continue to give full play to the main energy role of coal and guide the reasonable range of coal price operation with marketization and legalization; Second, promote the flexible transformation of coal motor units. The transformation scale in the whole year exceeded 220 million KW, and it is expected to release more than 40 million regulation capacity; Third, orderly development of nuclear power. In addition, the national development and Reform Commission has indeed accelerated the formulation of energy storage cost dredging mechanism, established the functional positioning and role value of all kinds of energy storage in the construction of new power system, and based on this, the formulation of cost dredging mechanism will be the most effective measure to solve the large-scale development of energy storage. We believe that to adapt to the growing development and consumption of new energy power, the demand for flexible resources in the power system is becoming more and more significant, and the importance of thermal power flexibility transformation, pumping and storage is expected to continue to strengthen.
Risk warning. The policy and installed capacity demand are less than expected, and the price of the industrial chain fluctuates violently.
