电力设备及新能源行业周报：产业周跟踪，江苏海风竞配超预期，关注AI电力标的

Investment Rating - The report maintains an "Outperform" rating for the power equipment and new energy sector, indicating a positive outlook compared to the broader market [2]. Core Insights - The report highlights that the domestic photovoltaic (PV) installed capacity is expected to exceed 250GW in 2024, with a cumulative year-on-year increase of 25.9% as of November 2023. The report emphasizes the strong performance of the PV sector, driven by year-end project rushes [3][29]. - The offshore wind power sector is gaining momentum, with Jiangsu and Liaoning provinces initiating competitive bidding for offshore wind projects, indicating a high level of market activity and investment opportunities [41][42]. - The hydrogen energy sector is actively being promoted by the National Energy Administration, with significant developments such as the operation of the first 1.5MW hydrogen power station in China [5][80]. Summary by Sections 1. New Energy Vehicles and Lithium Battery Sector - The report discusses the launch of standardized battery swapping solutions by CATL and the introduction of NIO's flagship electric vehicle ET9, indicating advancements in the electric vehicle market [16][17]. 2. New Energy Generation Sector 2.1 Photovoltaic Sector - As of November 2023, the cumulative installed capacity of solar energy reached approximately 820GW, with a year-on-year growth of 46.7%. The report anticipates that the domestic PV installed capacity will exceed 250GW in 2024, maintaining a robust growth trajectory [30][29]. 2.2 Wind Power Sector - The report notes that Jiangsu has initiated a competitive bidding process for 7.65GW of offshore wind projects, with expectations for smooth project progression and significant contributions to future grid connections [41][42]. 3. Energy Storage Sector - The report highlights a significant increase in energy storage installations in the U.S., with a year-on-year growth of 80% in Q3 2023. It also mentions potential policy changes in India that could accelerate energy storage development [46][54]. 4. Power Equipment and Industrial Control Sector - The report indicates a substantial increase in grid investment, with November 2023 seeing a 51.54% month-on-month growth. The overall investment in power grid projects is expected to exceed 600 billion yuan in 2024 [61][62]. 5. Hydrogen Energy Sector - The report outlines the proactive measures taken by the National Energy Administration to advance the hydrogen energy sector, including the operation of a 1.5MW hydrogen power station and plans for significant hydrogen production capacity by 2027 [75][80].