电力设备行业周报：特高压2025年有望加速，协会发布调整铜箔价格倡议书

Investment Rating - The report maintains an "Overweight" rating for the electric equipment industry [1] Core Insights - The report highlights that the ultra-high voltage (UHV) sector is expected to accelerate in 2025, with significant investments in the grid sector anticipated to reach 600 billion yuan in 2024 [1][16] - The photovoltaic (PV) segment is experiencing price increases for certain battery cells, indicating a potential recovery in prices across the supply chain [1][11] - The wind power sector is seeing increased overseas orders, with domestic turbine manufacturers securing approximately 11.28 GW of orders [1][13] Summary by Sections 1. Industry Review - The electric equipment sector saw a 5.8% increase from November 4 to November 8, 2024, with a year-to-date increase of 14.7% [8] - Sub-sectors such as photovoltaic equipment, wind power equipment, batteries, and grid equipment have shown significant price increases [10] 2. Key Weekly Insights 2.1 New Energy Generation - Photovoltaics: The report notes a 5% expected decrease in silicon material production in November, aiding inventory reduction. The price of M10 monocrystalline TOPCon battery cells has risen to 0.275 yuan/w, a 3.78% increase [1][11] - Wind Power & Grid: The report emphasizes the acceleration of domestic wind turbine exports, with a notable order for a 1.1 GW wind project in Egypt. The UHV investment is projected to increase significantly to meet renewable energy consumption needs [1][16] - Hydrogen Energy: A partnership involving Siemens and several Chinese companies aims to develop green hydrogen production from offshore wind in Hainan [1][18] - Energy Storage: The average bidding price for energy storage systems in October ranged from 0.473 to 0.861 yuan/Wh, indicating a competitive market [1][21] 2.2 New Energy Vehicles - The report discusses the copper foil industry, highlighting a call for price adjustments to combat severe competition and ensure industry sustainability. The total production capacity for copper foil in China is projected at 1.618 million tons by the end of 2023 [1][25] 3. Price Dynamics in the Photovoltaic Industry - The report provides detailed pricing data for various components in the photovoltaic supply chain, indicating fluctuations in prices for polysilicon, silicon wafers, and battery cells [1][30] 4. Important News of the Week - The report summarizes key developments in the new energy vehicle sector, including a significant increase in sales and market penetration rates [1][31]