电力设备行业周报：SST密集发布样机，钠电池行业进展加速

Investment Rating - Maintain Buy Rating [5] Core Insights - The sodium battery industry is accelerating, with significant advancements in technology and partnerships, indicating a strong growth trajectory for the sector [4][24][26] - The German government is set to invest €8 billion over the next four years to expand wind power installations, aiming to achieve its 2030 emission reduction targets [2][18] - The domestic energy storage market has seen a remarkable increase in installed capacity, with a 182% year-on-year growth in power and a 472% increase in capacity for the first two months of 2026 [4][23] Summary by Sections 1. New Energy Generation 1.1 Photovoltaics - The upstream market for polysilicon is weakening, with prices dropping and only one new order being secured this week [16] - Domestic demand for battery cells remains weak, leading to a continuous decline in market prices [16][17] - Overseas component prices are expected to rise due to geopolitical factors and export tax policy changes, with current prices around $0.11 per watt [17] 1.2 Wind Power & Grid - Germany plans to add 12GW of onshore wind power, equivalent to the output of 15 to 20 gas-fired power plants, as part of its climate protection plan [2][18] - The SST (Solid State Transformer) technology is gaining traction, with multiple companies releasing prototypes, indicating a shift towards more efficient energy conversion [19][20] 1.3 Hydrogen & Energy Storage - Inner Mongolia has established a green hydrogen production capacity of 80,000 tons annually, with significant growth expected in the coming years [3][22] - The energy storage sector has seen a substantial increase in new installations, with a total of 9.51GW/24.18GWh added in early 2026 [4][23] 2. New Energy Vehicles - Peak Energy has partnered with RWE Americas to trial its sodium-ion battery technology, which significantly reduces lifecycle storage costs [24] - CATL is actively investing in sodium battery production, with plans for large-scale applications across various sectors [24][26]