Investment Rating - The industry investment rating is "Recommended (Maintain)" [1] Core Viewpoints - The report highlights that the demand for new energy installations is expected to continue growing in the long term, with future consumption pressures likely to be alleviated through energy storage and virtual power plants [1] - As of September 2024, the cumulative installed capacity of photovoltaic (PV) power reached 770 million kilowatts, representing a year-on-year increase of 48.3% [1] - In the first nine months of 2024, domestic PV installations totaled 160.88 GW, a year-on-year increase of 25% [1] - Wind power installations in September 2024 reached 5.51 GW, with a cumulative installed capacity of approximately 480 million kilowatts, reflecting a year-on-year increase of 19.8% [1] Summary by Sections Photovoltaic Installations - In September 2024, new PV installations were 20.89 GW, with a month-on-month increase of 27% and a year-on-year increase of 32% [1] - The report indicates that the growth rate of new PV installations has turned positive compared to the previous month [1] Wind Power Installations - September 2024 saw new wind power installations of 5.51 GW, with a month-on-month increase of 49% and a year-on-year increase of 21% [1] - The report notes that the wind power installation capacity as of September 2024 is approximately 480 million kilowatts [1] Investment Trends - Power investment in the first nine months of 2024 increased by 7.2% year-on-year, while grid investment rose by 21.1% [1] - The total investment in power generation projects by major power companies reached 595.9 billion yuan, reflecting a year-on-year growth of 7.2% [1] - Grid project investments totaled 398.2 billion yuan, marking a year-on-year increase of 21.1% [1] Recommended Stocks - The report suggests focusing on leading companies in the photovoltaic sector such as Tongwei Co., Longi Green Energy, Trina Solar, JinkoSolar, Canadian Solar, and TCL Zhonghuan [1] - It also recommends paying attention to companies with strong profitability in the inverter and energy storage segments, including Sungrow Power Supply, DeYe Shares, and Shangneng Electric [1]
行业动态点评报告:9月装机数据:光伏新增装机20.89GW,风电新增装机5.5GW
CHINA DRAGON SECURITIES·2024-10-23 08:03