电力设备行业投资策略周报：逆变器8月出口数据稳增，关注特高压柔直招标

Investment Rating - The report does not explicitly state an investment rating for the industry Core Insights - The photovoltaic sector is experiencing a strong willingness to maintain prices in the upstream silicon material segment, with a slight price adjustment observed in new orders [3][8] - The electric equipment sector shows significant growth, with a 65.1% year-on-year increase in grid construction investment in August, reaching 38.3 billion yuan [3][17] - The wind power sector has seen new wind turbine bidding projects totaling 0.65GW this week, with ongoing strong demand for offshore and onshore projects [3][22] - The lithium battery sector is in a bottoming phase, with clear signs of market clearing as new national standards for electric two-wheelers are revised [3][29] - The hydrogen energy segment is poised for high growth, with significant domestic and international green hydrogen projects emerging [3][29] Summary by Sections Photovoltaics - Price Changes: The upstream silicon rod segment shows a strong price maintenance intention, with new order prices experiencing a slight decline. The overall market for battery cells remains stable, with limited pricing power [3][8][10] - Industry Dynamics: Multiple photovoltaic policies have been released, including a significant increase in tariffs on polysilicon and silicon wafers by the U.S. [10][11] Electric Equipment - Main Network: The total bidding volume for transformers in 2023 is 370,674 MVA, a year-on-year increase of 33.2% [13] - Electric Investment: Nationwide electric power engineering investment from January to August reached 497.6 billion yuan, a year-on-year increase of 5.8% [17] - Export Data: In August, the export value of electric meters was 1.18 billion yuan, a year-on-year increase of 22.6% [17][20] Wind Power - New Bidding Situation: This week, new wind turbine bidding projects totaled 0.65GW, with significant projects in both onshore and offshore categories [22][24] - Industry Dynamics: The cumulative bidding for wind power in 2024 has reached 149GW, a year-on-year increase of 96.81% [24] Hydrogen Energy - Data Tracking: From January to September 2024, the cumulative bidding for electrolyzers reached 2,187.05MW, a year-on-year increase of 56.16% [29]