SCS(SH:601555) 智通财经网·2025-10-21 23:19Core Viewpoint - The report from Dongwu Securities indicates that independent energy storage is set to follow the growth of new energy storage in China, with supportive capacity pricing policies being introduced, leading to strong growth potential in the domestic energy storage market [1] Energy Storage Sector - In the first nine months of 2025, domestic energy storage bidding reached 102 GWh, representing a 30% year-on-year increase, indicating a robust bidding environment [1] - The price of energy storage equipment has begun to rebound due to tight supply and demand for battery cells, with the bidding prices having bottomed out [1] - In the U.S., cumulative installations from January to August 2025 reached 8,043 MW, a 33% increase year-on-year, corresponding to 25.1 GWh, which is a 46% increase year-on-year [4] Photovoltaic Sector - In August 2025, domestic installations decreased by 55.29%, indicating weak terminal demand, while overseas demand continues to grow steadily [2] - The total installed capacity from January to August 2025 was 230.61 GW, a 65% year-on-year increase [2] - The average price of monocrystalline silicon wafers increased by 8% month-on-month to 1.35 yuan per piece as of September 24, 2025, indicating a recovery in prices [3] Wind Power Sector - Wind power installations reached 58 GW from January to August 2025, a 72% year-on-year increase, with Q3 showing continued upward delivery trends for both onshore and offshore wind [5] - Offshore wind project progress in Jiangsu and Guangdong is proceeding smoothly, with expectations for deep-sea wind power to catalyze further growth [5]