软件与服务专题报告：能源IT产业跟踪：加快构建新型电力系统，微电网成长空间广阔

Investment Rating - The report maintains a "Positive" investment rating for the microgrid industry [5] Core Insights - The microgrid industry is currently in a demonstration and pilot phase in China, with significant growth potential as the new power system is being constructed. The demand for microgrid projects is primarily driven by government institutions, energy companies, and schools, indicating a broad future penetration space [3][4] - The widening peak-valley price difference and rapid development of distributed energy sources are driving the demand for energy efficiency management, which is crucial for the microgrid industry [3][11] - The microgrid's core value lies in its ability to efficiently absorb and utilize distributed energy, making it a key direction for accelerating the construction of a new power system [4][19] Summary by Sections Peak-Valley Price Difference and Distributed Energy Development - The implementation of time-of-use pricing and peak-valley pricing mechanisms is enhancing energy management on the user side, with 18 out of 32 regions in China having a peak-valley price difference exceeding 0.7 yuan/kWh in 2023, necessitating more efficient energy management [3][11] - The cumulative installed capacity of distributed photovoltaic systems in China reached 30,951 MW by mid-2024, representing a nearly 29-fold increase since the end of 2016, with a CAGR of approximately 51% from 2017H1 to 2024H1 [3][14] Microgrid as an Extension of the Main Grid - Microgrids are characterized by being small, clean, autonomous, and user-friendly, primarily serving end-user enterprises and acting as an important extension of the main grid. They are suitable for small power supply areas and can enhance the reliability and efficiency of power supply [4][22] - The current domestic market size of the microgrid industry is estimated to be between 6-8 billion yuan, with significant downstream market capacity and long-tail effects expected to expand as technology improves and economic value becomes more apparent [4][22] Industry Company Analysis - The microgrid industry is still in its early development stage, with opportunities for companies with first-mover advantages to capture emerging markets. Key players include companies involved in energy management systems, distributed energy solutions, and virtual power plants [5][27] - Notable companies in the microgrid sector include Anke Rui, which generated 1.122 billion yuan in revenue from enterprise microgrid solutions in 2023, and other firms providing integrated energy services and solutions [27][28]