太阳能行业周报：1-9月光伏新增装机同比增长24.77%，组件价格企稳

Investment Rating - The report maintains a "Market Perform" rating for the solar energy industry, indicating expected performance in line with the broader market [4]. Core Insights - In September 2024, China's photovoltaic product exports amounted to $2.124 billion, a decrease of 17.83% from August, marking a four-year low [1]. - The National Energy Administration reported a 24.77% year-on-year increase in new photovoltaic installations for the first nine months of 2024, totaling 160.88 GW [4]. - The average price of polysilicon remains stable, with dense material priced at 40.0 CNY/kg and granular silicon at 36.5 CNY/kg [3]. Summary by Sections Export Data - In September 2024, the export value of photovoltaic products was $2.124 billion, including $110 million for silicon wafers, $162 million for battery cells, and $1.853 billion for photovoltaic modules [1]. Installation Growth - New photovoltaic installations in September 2024 reached 20.89 GW, reflecting a year-on-year growth of 32.38% [4]. - The total photovoltaic installations for the first nine months of 2024 increased by 24.77% compared to the same period last year [4]. Power Generation Statistics - In September 2024, the solar power generation from large-scale industrial sources was 32.34 billion kWh, showing a year-on-year increase of 12.7% [4]. Price Trends - The average price of 182mm monocrystalline silicon wafers decreased by 4.0% to 1.20 CNY/piece, while the average price of 210mm battery cells remained stable at 0.285 CNY/W [5][6]. - The average price for 182mm bifacial PERC modules was stable at 0.68 CNY/W, with recent procurement bids indicating a slight increase in module prices [7]. Investment Recommendations - Key stocks recommended include: - 福莱特 (Flaite) - Buy - A - 隆基绿能 (Longi Green Energy) - Buy - B - 爱旭股份 (Aiko Solar) - Buy - B - 阿特斯 (Canadian Solar) - Buy - A - 阳光电源 (Sungrow) - Buy - A - 德业股份 (Deye) - Buy - A [2].