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电池及储能行业周报:铁锂装机占比提升,全国电力现货市场建设加速
Donghai Securities·2024-10-21 10:01

Investment Rating - The report indicates a positive investment outlook for the battery and energy storage sectors, with the battery sector showing a 3.42% increase, outperforming the CSI 300 index by 2.44 percentage points [6][20]. Core Insights - The battery sector is experiencing growth in lithium iron phosphate (LFP) battery installations, with a significant increase in new energy vehicle sales, projected to reach 11.5 million units in 2024, a year-on-year increase of 20% [6][13]. - The energy storage sector is witnessing a rebound in bidding activity, with a total of 16 new projects and 13 awarded projects, indicating a growing market [7][16]. Summary by Sections Battery Sector - The installation share of lithium iron phosphate batteries continues to rise, with a reported 75.8% share in September, up 1.6 percentage points from the previous month. New energy vehicle sales reached approximately 408,000 units in the first two weeks of October, an 8% increase from September [6][13]. - Supply-side adjustments are stabilizing prices across various materials, including lithium salts and cathode materials. The price of industrial-grade lithium carbonate is reported at 69,500 CNY/ton, down 2.39% week-on-week [14][23]. - Key companies to watch include CATL, which is expected to ship 480 GWh in 2024 with an estimated profit of 46 billion CNY, and Teruid, benefiting from upgrades in power grid investments [15][18]. Energy Storage Sector - The energy storage bidding market has seen a total capacity of 2.44 GW/7.57 GWh, with the average winning bid for energy storage EPC projects at 0.89 CNY/Wh, a 4.3% increase from the previous week [7][16]. - The national inter-provincial electricity spot market has officially commenced, presenting opportunities for independent energy storage development. The average price difference between peak and valley electricity rates has narrowed, affecting project owners' sentiment [17][32]. - Companies like Sungrow Electric are highlighted for their comprehensive energy storage solutions, including upstream inverter production and downstream project execution [18][32].