新华财经北京1月30日电（记者安娜） 国家能源局能源节约和科技装备司副司长边广琦30日说，截至 2025年底，全国已建成投运新型储能装机规模达到1.36亿千瓦／3.51亿千瓦时，与"十三五"末相比增长 超40倍，实现跨越式发展。 当日，国家能源局举行新闻发布会。边广琦是在会上作出上述表述的。 党中央、国务院高度重视新型储能发展，党的二十届四中全会明确提出"大力发展新型储能"。"国家能 源局深入贯彻落实党中央、国务院决策部署，统筹谋划、多措并举，推动新型储能发展取得扎实成效， 为构建新型能源体系和新型电力系统提供有力支撑。"边广琦在会上说。 分地域来看，华北地区装机占比最大。记者从会上了解到，华北地区已投运新型储能装机规模占全国 32.5%，西北地区占28.2%，华东地区占14.4%，南方地区占13.1%，华中地区占11.1%，东北地区占 0.7%。"过去一年里，华北、西北为新型储能主要增长区，新增装机分别为2188万千瓦、1966万千瓦， 分别占全国新增装机的35.2%、31.6%。"边广琦说。 从单站规模来看，10万千瓦以上的大型化发展趋势明显。记者从国家能源局了解到，截至2025年底，我 国10万千瓦及以 ...

Group 1 - The core viewpoint of the article highlights the recent expansion of energy storage companies in both domestic and international markets, with multiple orders being secured [2] - Zhiguang Electric has signed three orders for solar-storage-diesel microgrid projects in the Democratic Republic of the Congo, utilizing customized containerized energy storage solutions [3] - Zhiguang Electric has also entered the Malaysian market, signing a supply and service agreement to deliver 150 units of fully liquid-cooled integrated machines by 2026, indicating a strategic focus on overseas markets [5] Group 2 - Zhiguang Electric anticipates turning a profit in 2025, projecting a net profit of 110 million to 160 million yuan, a significant turnaround from a loss of 326 million yuan in the previous year, reflecting a year-on-year growth of 133.69% to 149.01% [5] - Dongfang Electric's subsidiary has successfully won a bid for a 200 MW/400 MWh independent energy storage project in Shandong, which is crucial for the development of a new energy system and green energy transition [6] - Dongfang Electric has also signed a contract for a solar-storage project in Uzbekistan, which is the largest integrated solar-storage project in the region, further emphasizing the company's growth in the energy storage sector [8]

Core Insights - By the end of 2025, China's new energy storage capacity is expected to grow by 84% compared to the end of 2024, achieving over 40 times the capacity compared to the end of the 13th Five-Year Plan, indicating significant development in the sector [1] - The average energy storage duration has increased by 0.30 hours to 2.58 hours compared to the end of 2024 [1] Group 1: Capacity and Utilization - The equivalent utilization hours of new energy storage nationwide are projected to reach 1195 hours in 2025, an increase of nearly 300 hours from 2024 [2] - The State Grid and Southern Power Grid have equivalent utilization hours of 1175 hours and 1294 hours, respectively [2] Group 2: Regional and Technical Developments - The North China region accounts for the largest share of installed capacity, with 32.5% of the national total, and has seen significant growth in new installations [3] - New installations in North and Northwest China were 21.88 million kW and 19.66 million kW, representing 35.2% and 31.6% of the national total, respectively [3] - Projects with a capacity of over 100,000 kW now account for 72% of total installations, an increase of about 10 percentage points from 2024 [3] - Lithium-ion battery storage remains dominant, comprising 96.1% of installed capacity, while other technologies like compressed air and flow batteries account for 3.9% [3]

- The report primarily focuses on the investment value of the "恒生A股电网设备指数" (HSCAUPG.HI), which is a thematic index designed to reflect the performance of China's A-share listed companies in the power grid equipment sector. The index was launched on February 28, 2022, and its methodology includes selecting companies with at least 40% of their revenue derived from energy infrastructure, power equipment, industrial components, and intelligent technologies. The index is weighted by free-float market capitalization, with a cap of 10% per constituent stock[37][38][39] - The index underwent a significant revision in 2025, reducing the number of constituent stocks from 100 to 50, focusing more on downstream power grid equipment manufacturing. This adjustment enhanced the index's purity and representation of the modernization and specialization of China's power grid equipment sector[37][38][39] - The index's sectoral distribution is highly concentrated, with approximately 70% allocated to power grid equipment, 13% to communication equipment, and smaller proportions to automotive components, metal materials, wind power equipment, and other industries. This structure ensures a strong focus on the modernization of power grid infrastructure, automation, and digitalization[39][41][42] - The index's internal structure is dominated by high-tech and high-certainty segments, such as transmission and transformation equipment (31% weight) and power grid automation equipment (21% weight). These segments benefit from China's "十五五" strategic planning, which emphasizes the construction of ultra-high voltage backbone networks, upgrades to main grid systems, and the integration of renewable energy bases[39][41][43] - The index has demonstrated strong performance, with a cumulative return of 335.48% since its base date, significantly outperforming the申万电网设备行业指数 (151.41%) and the上证指数 (64.96%). It exhibits high returns, moderate volatility, and superior risk-adjusted returns, with a Sharpe ratio of 4.42 over the past year and consistently above 1.0 over longer periods[55][56][58]

作为连续多年关注城市能源保障的人大代表，姚建东提出从"源、网、荷、储、技术、市场、政策"全要 素协同发力，支持成都加快建设超大城市新型电力系统。一是加强电源和储能布局，将负荷中心电源建 设纳入重点能源规划，推动大邑抽蓄电厂、金堂电厂二期等项目落地，规模化发展分布式光伏与储能； 二是优化网架结构，强化政策与廊道保障，适度超前布局电力设施，提升区域电网互联互济能力；三是 规范新兴元素接入管理，制定配电设施运维、充电布局等标准，探索V2G技术，优化居民阶梯电价；四 是强化要素保障，争取移交资产纳入输配电价疏导，完善分时电价与储能市场机制，试点电力现货市场 多节点电价结算。 1月28日，在成都市十八届人大四次会议分团讨论会上，成都市人大代表、国网成都供电公司总经理姚 建东聚焦超大城市能源保障与民生服务痛点，分别围绕加快新型电力系统建设、全面推广共享充电设 施"统建统服"模式建言。 据介绍，2025年成都已圆满完成"十四五"电网建设任务，成功构建成都500千伏立体双环网。姚建东表 示，当前成都电网主要矛盾已从是否"送得进"转向是否"落得下、用得好"，但空调降温负荷占比大、电 源"空心化"、政策配套不完善等问题仍亟待破解 ...

Core Viewpoint - The article highlights that China's energy transition has shifted from merely expanding installed capacity to focusing on system efficiency, dispatch capability, and structural optimization, indicating a fundamental change in the operational logic of the power system [5][8]. Group 1: Installed Capacity and Growth - As of the end of 2025, the total installed power generation capacity in China reached 389.134 million kilowatts, a year-on-year increase of 16.1% [4]. - Solar power generation capacity reached 120.173 million kilowatts, growing by 35.4%, while wind power capacity reached 64.001 million kilowatts, increasing by 22.9% [5]. - In contrast, the growth rates for hydropower, thermal power, and nuclear power were significantly lower at 2.9%, 6.3%, and 2.7%, respectively, indicating a shift towards renewable energy as the main contributor to new capacity [5]. Group 2: Utilization Efficiency and Challenges - The average utilization hours of power generation equipment in China fell to 3,119 hours in 2025, a decrease of 312 hours year-on-year, reflecting increasing systemic pressure on energy consumption [6]. - The decline in utilization hours has been consistent, dropping from over 3,800 hours in 2021 to around 3,400 hours in 2024, indicating a growing challenge in effectively utilizing installed capacity [6][7]. - The reduction in utilization hours affects not only renewable projects but also traditional thermal and gas power plants, which are increasingly relegated to peak shaving and backup roles, altering their revenue models [7]. Group 3: Future Investment and Policy Implications - Future investment decisions in the power sector will increasingly depend on grid connectivity, consumption capacity, and system contribution rather than just installed capacity and resource conditions [8]. - Accelerating the construction of a new power system and addressing flexibility shortcomings will be essential for stabilizing the energy transition and reducing system costs [8].

用风电、光伏等可再生能源发出的绿电替代传统燃煤、燃气发电，是助力北京实现"碳达峰碳中和"目标的关键举措。2025年，北京绿色电力占比已达到 36%，绿色发展底色愈发鲜明。为保障北京绿电供应需求，提升绿电消纳能力和电网调节能力，京能集团布局了"吉电进京""蒙电进京"等一批绿电大基地项 目，以及延庆、门头沟、河北承德等抽水蓄能电站项目，但目前依然存在进京绿电通道不足的担忧，这也制约了北京的绿电输入。 郭明星建议，加快新增绿电接受通道规划建设，并进一步挖掘电网存量资源潜力，对北京现有通道、升压站进行扩容升级改造，保证输送到北京的绿电能够 有效接收。此外，北京可超前谋划，以满足更大规模绿电为目标，加快构建高韧性、高灵活性、高可再生能源渗透率的新型电力系统，为绿电安全输入和充 分消纳提供有力支撑。 本报记者 和冠欣摄 本报讯（记者 潘福达）今年的政府工作报告提出：扩大绿电应用，外调绿电规模达450亿千瓦时。市人大代表，北京能源集团有限责任公司党委书记、董事 长郭明星建议，加快北京外部输电通道建设和本地新型电力系统建设，让北京更好用上绿电。 ...

Investment Rating - The industry investment rating is "Outperform the Market" [1] Core Insights - The report indicates a positive outlook for the power energy industry, expecting the industry index to outperform the CSI 300 index in the next six months [65] - The total electricity consumption in China reached a historic high of 10 trillion kilowatt-hours in 2025, with a year-on-year growth of 5.0% [10] - The report highlights significant growth in the renewable energy sector, particularly in solar and wind power, with solar power installations increasing by 33.25% year-on-year [26] Industry Events - In January 2026, the national maximum electricity load exceeded 1.4 billion kilowatts for the first time, driven by increased demand due to extreme weather [11] - Tesla's CEO announced plans to expand solar manufacturing capacity significantly, which is expected to boost solar manufacturing expectations [11] Market Performance - During the period from January 19 to January 25, 2026, the CSI 300 index fell by 0.62%, while the power equipment index rose by 3.57%, outperforming the CSI 300 by 4.19 percentage points [5][13] - Among the sub-sectors of the power energy industry, photovoltaic processing equipment, photovoltaic auxiliary materials, and wind power components had the highest increases, with respective growth rates of 21.77%, 11.17%, and 7.41% [20] Power Industry Operations - In December 2025, the total electricity consumption was 908 billion kilowatt-hours, reflecting a year-on-year increase of 2.77% [23] - The cumulative installed capacity of new power generation from January to November 2025 was 44,557 megawatts, representing a year-on-year growth of 40.71% [25] New Power System Situation Photovoltaics - As of January 21, 2026, the average price of polysilicon was 54 yuan/kg, remaining stable compared to the previous week [42] Energy Storage - By the end of December 2025, the cumulative installed capacity of energy storage projects in China reached 213 GW, a year-on-year increase of 54% [47] Lithium Batteries - As of January 23, 2026, the price of lithium carbonate was 168,000 yuan/ton, reflecting an increase of 15,000 yuan/ton from the previous week [50] Charging Stations - By the end of December 2025, the total number of charging infrastructure units in China reached 20.092 million, a year-on-year increase of 56.75% [57]

Investment Rating - The industry investment rating is "Outperform the Market" [1][65] Core Viewpoints - The report indicates that the power energy industry is expected to perform well, with the industry index projected to outperform the CSI 300 index in the next six months [65] - The total electricity consumption in China reached a historic high of 10 trillion kilowatt-hours in 2025, with a year-on-year growth of 5.0% [10] - The report highlights significant growth in the renewable energy sector, particularly in solar and wind power, with substantial increases in installed capacity [11][12] Industry Events - In January 2026, the maximum electricity load in China broke records, reaching 1.417 billion kilowatts, driven by increased demand due to extreme weather [11] - Tesla's CEO announced plans to expand solar manufacturing capacity significantly, which is expected to boost the solar manufacturing outlook [11] Market Performance - During the period from January 19 to January 25, 2026, the CSI 300 index fell by 0.62%, while the power equipment index rose by 3.57%, outperforming the CSI 300 by 4.19 percentage points [5][13] - Among the 31 first-level industries, the power equipment sector ranked 11th in performance [16] Power Industry Operations - In December 2025, total electricity consumption was 908 billion kilowatt-hours, a year-on-year increase of 2.77% [23] - From January to November 2025, the newly added power generation capacity was 44.557 million kilowatts, a year-on-year increase of 40.71% [25][26] - The average utilization hours of power generation equipment decreased by 289 hours year-on-year to 2858 hours [33] New Power System Situation Photovoltaics - As of January 21, 2026, the average price of polysilicon was 54 yuan/kg, remaining stable [42] Energy Storage - By the end of December 2025, the cumulative installed capacity of energy storage projects in China reached 213 GW, a year-on-year increase of 54% [47] Lithium Batteries - As of January 23, 2026, the price of lithium carbonate was 168,000 yuan/ton, reflecting a week-on-week increase [50] Charging Infrastructure - By the end of December 2025, the total number of charging facilities in China reached 20.092 million, a year-on-year increase of 56.75% [57]

项目正式投运后，核心指标表现亮眼：220kV/并网点效率＞90%，在线率＞99.5%，组串式架构 +智能热管理温控设计助力电站设备一致性和可靠性显著提升，全生命周期收益大幅提升。 2025年底， 内蒙古包头卜尔汉图400MW/2400MWh储能项目正式并网投运， 该项目批量采用5 87Ah超大容量电芯、结合单舱7MWh+的模块化系统设计，成功打造出国内首个实现7MWh级储能 系统产品大规模应用的标杆工程。 该项目采用6小时长时储能设计，可灵活适配电网不同时段的调 峰、调频需求。 此次批量应用的新一代7MWh+储能系统，并非简单提升电芯容量密度，而是 以"平衡之道"为核心 理念 ，在全面满足GB 44240等国标高要求基础上，配备587Ah行业顶尖电芯，通过系统架构、热管理 与安全防护三大维度的系统性创新，实现能量密度、可靠性与效率的显著提升，为新型电力系统建设注 入了强劲动能。产品综合性能突破的成效，在项目投运后的核心指标中得到充分印证。 - 部署多维智能感知系统，融合边缘计算与物理隔离技术，实时监控电池、电气及结构安全状态， 借助毫秒级电气硬隔离阻断风险蔓延，实现对热失控的早期预警、多重研判与主动安全管控。 ...