Investment Rating - The report provides a "Buy" rating for several stocks in the solar energy sector, including Aishuo Co. (600732.SH), Longi Green Energy (601012.SH), and others, with ratings ranging from "Buy-A" to "Buy-B" [1]. Core Insights - The report highlights a significant increase in domestic photovoltaic (PV) installations, with a total of 277 GW added in 2024, representing a year-on-year growth of 28.4% [2][7]. - The report notes a decline in the export value of PV components and inverters, with a total export value of 217.71 billion yuan for components in 2024, down 28.8% year-on-year [2][10]. - Solar power generation in December 2024 saw a year-on-year increase of 28.5%, contributing to 3.73% of the total national power generation [4][22]. Summary by Sections 1. Installation - In December 2024, approximately 70.7 GW of new PV installations were added, marking a year-on-year increase of 36.3% and a month-on-month increase of 182.8% [2][7]. 2. Exports - Component exports in December 2024 totaled 14.05 billion yuan, down 15.8% year-on-year but up 9.8% month-on-month. The cumulative export value for the year was 217.71 billion yuan, reflecting a 28.8% decline [2][10]. - Inverter exports in December 2024 reached 4.78 billion yuan, showing a year-on-year increase of 12.5% and a month-on-month increase of 10.2%. The total export value for the year was 58.82 billion yuan, down 15.5% year-on-year [3][17]. 3. Solar Power Generation - The solar power generation in December 2024 was 31.54 billion kWh, which is a 28.5% increase year-on-year, accounting for 3.73% of the total national power generation [4][22]. 4. Investment Recommendations - The report recommends focusing on leading companies in the solar energy sector, such as Aishuo Co. and Longi Green Energy, as well as companies in the energy storage sector like Arctech and Sungrow [4][26].
202412光伏行业月度报告：2024年光伏新增装机同增28.4%，组件逆变器出口额同比下降
Shanxi Securities·2025-01-24 00:22