"十五五"规划建议提出，要加快建设新型能源体系，持续提高新能源供给比重，推进化石能源安全可靠 有序替代，着力构建新型电力系统，建设能源强国。 正因如此，"十五五"规划建议提出加快建设新型能源体系，这一部署实质上意味着中国新能源发展从结 构性突破走向系统性重构的战略转向。其重点不再是单纯扩大制造产能，而是聚焦强化电网调节能力、 发展新型储能、完善市场机制，推动中国能源体系从"制造领先"向"体系强健"实现全面升级。 加快建设新型能源体系 进入"十五五"时期，中国能源转型的重心逐步从制造端向体系端转移，从单纯扩张产能转向完善新型新 能源基础设施和优化系统运行协同推进。"十五五"规划建议明确提出，要加快建设新型能源体系，持续 提高新能源供给比重，坚持风光水核等多能并举，并统筹就地消纳与跨区外送。这意味着不仅要保持制 造端的领先优势，更需通过优化电网布局、提升跨区输电能力、推进源网荷储协同等措施，构建安全、 韧性、智能、高效的系统支撑网络，从而确保新能源能够稳定、高效地融入电力系统，确保新能源发 电"发得出、用得上、用得稳"。通过这一系统性建设，中国能源体系将逐步完成从"制造强国"向"体系 强国"的战略转型，为高比例可 ...

Core Insights - The Electric Grid Equipment ETF (159326) has seen a narrowing decline of 1.21% as of 14:54 on November 17, with a trading volume of 207 million yuan, indicating strong market interest [1] - The ETF has attracted over 1.5 billion yuan in the last 12 trading days, reaching a total size of over 1.9 billion yuan, marking a record high since its inception and making it the largest electric grid equipment-themed ETF in the market [1] - The National Energy Administration has released guidelines to promote the integrated development of renewable energy, emphasizing the need for a dual network operation of electricity and computing power to support a national integrated computing power network [1] Industry Developments - The "14th Five-Year Plan" suggests accelerating the construction of a new energy system, increasing the proportion of renewable energy supply, and ensuring a safe and orderly replacement of fossil energy [1] - There is a focus on enhancing the resilience and complementarity of the power system, with plans for scientific layout of pumped storage and significant development of new energy storage, as well as accelerating the construction of smart grids and microgrids [1] - The Electric Grid Equipment ETF tracks the CSI Electric Grid Equipment Theme Index, with a strong representation in sectors such as transmission and transformation equipment, grid automation equipment, cable components, and distribution equipment, with a high weight of 64% in ultra-high voltage [1]

Core Insights - Hydrogen energy and nuclear fusion are identified as future industries in the "14th Five-Year Plan," expected to become new economic growth points and accelerate the transition from laboratory to industrial application, contributing to the "dual carbon" goals [1] Hydrogen Energy - Hydrogen energy is produced through the chemical reaction of hydrogen and oxygen, utilizing primary energy sources like wind, solar, coal, and natural gas, making it a secondary clean energy source [2] - The hydrogen industry is emerging, with hydrogen fuel cell vehicles offering longer ranges and faster refueling; hydrogen is also being used in steelmaking to replace coke, significantly reducing carbon emissions [2] - By the end of 2024, national hydrogen production capacity is expected to exceed 50 million tons per year, with a year-on-year growth of approximately 1.6%; over 600 renewable energy electrolysis hydrogen production projects are planned nationwide [2] - The development of the hydrogen industry is crucial for accelerating the construction of a new energy system and achieving carbon peak and carbon neutrality goals [2] Nuclear Fusion Energy - Nuclear fusion is likened to the ultimate energy dream, where hydrogen atoms fuse into helium under extreme temperatures and pressures, releasing vast amounts of energy [3] - The raw materials for nuclear fusion are abundant, derived from isotopes of hydrogen found in seawater, and it is considered a clean and safe energy source [3] - For instance, the energy produced from 1 liter of seawater's deuterium is equivalent to that from 300 liters of gasoline [3] - Significant advancements in nuclear fusion research have been reported in China, including breakthroughs in temperature and duration of high-quality burning, bringing the "artificial sun" closer to reality [3] - The technology of fusion energy is transitioning from scientific research to engineering practice and commercial application [3]

"十五五"规划建议中，两位"能源新秀"氢能和核聚变能被列为未来产业，将成为新的经济增长点，加速 从实验室走向规模化、产业化应用，为实现"双碳"目标注入动能。 氢能和核聚变能是什么？又将如何影响未来生活？ 今年以来，我国聚变科研装置好消息频传："中国环流三号"首次实现原子核和电子温度均突破1亿摄氏 度；全超导托卡马克核聚变实验装置（EAST）首次完成1亿摄氏度1000秒"高质量燃烧"，创造新世界纪 录……每一步突破，让我们离"人造太阳"的梦想更近了。 国家原子能机构主任单忠德表示，聚变能技术正在从科学研究向工程实践和商业应用的目标加速迈进。 NLS | 陆海斯通道 NLS 陆海新通道 111 1 23 NLS 陆海新通道 int 日大大早餐店 西藏国际70kg 国 前 桂黄2人 氢能是氢和氧进行化学反应释放出的化学能，它通过风能、太阳能、煤炭、天然气等一次能源生产，是 一种二次清洁能源。 目前，氢能产业化崭露头角：搭载氢燃料电池，汽车续航更长、补能更快；钢铁冶炼行业用氢能替代焦 炭，可有效减少碳排放；氢能可实现跨季节、长周期储能，弥补风、光发电"看天吃饭"的短板。 数据见"成长"。截至2024年底，全国氢气产能 ...

"十五五"规划建议中，两位"能源新秀"氢能和核聚变能被列为未来产业，将成为新的经济增长点，加速 从实验室走向规模化、产业化应用，为实现"双碳"目标注入动能。 氢能和核聚变能是什么？又将如何影响未来生活？ 一代人造太阳 中国歌流三 氢能和核聚变能: "能源新秀" 驱动绿色未来 NLS ( 陆海斯通) NLS 陆海新通道 100 118 NLS 陆海新通道 uni 二大大年春子 西藏国际70kg 植糖2人 氢能是氢和氧进行化学反应释放出的化学能，它通过风能、太阳能、煤炭、天然气等一次能源生产，是 一种二次清洁能源。 目前，氢能产业化崭露头角：搭载氢燃料电池，汽车续航更长、补能更快；钢铁冶炼行业用氢能替代焦 炭，可有效减少碳排放；氢能可实现跨季节、长周期储能，弥补风、光发电"看天吃饭"的短板。 如果说氢能已是能源转型的"实干派"，那么核聚变能则是实现人类终极能源梦想的"理想主义者"。 核聚变的原理如同太阳发光发热，在极高温度和压力下，氢原子聚变成氦原子并释放出巨大能量。核聚 变能因原料丰富，来自海水中氢的同位素氘和氚，且清洁安全，被许多人寄予"终极能源"的厚望。比 如，1升海水里的氘聚变出的能量，相当于300升汽油 ...

中央纪委国家监委网站 初英杰 2023年7月，习近平总书记在四川考察时强调，要科学规划建设新型能源体系，促进水风光氢天然气等 多能互补发展。 俯瞰雅砻江两河口水电站。 牙根一级水电站建设者欢呼大江截流成功。 挖掘机将截流所需石料推入龙口。 孟底沟水电站施工现场，数十辆新能源自卸车不间断运输截流石料。 2024年4月，习近平总书记在主持召开新时代推动西部大开发座谈会时要求，加快建设新型能源体系， 做大做强一批国家重要能源基地。加强管网互联互通，提升"西电东送"能力。 川西高原，雅砻江中游河畔，满载截流所用石料的新能源自卸车往来如梭。随着最后一车截流石料填入 龙口，江水被完全分流至右岸新建的导流洞，现场顿时响起阵阵欢呼。10月28日，雅砻江上两座大型水 电站——孟底沟水电站、牙根一级水电站实现同步大江截流，两个项目进入主体工程施工新阶段。两座 水电站同步大江截流，在雅砻江流域尚属首次。这标志着雅砻江流域水风光一体化基地建设取得新突 破。 作为国家首个水风光一体化示范基地、九大清洁能源基地之一，雅砻江流域水风光一体化基地规划建设 一大批重大清洁能源工程，既有水电站，又有风电场、光伏电站，还有抽水蓄能电站，水、风、光 ...

为保障电力可靠供应，国网浙江电力加快迎峰度冬电网工程建设，夯实电力保供基础，增强电力供应能 力。据了解，2025年浙江实施迎峰度冬重点电网建设工程48项，总投资95亿元，新增变电容量383万千 伏安，线路里程1104千米。国网浙江电力系统梳理形成浙江电网建设"十大（类）工程"，开展专项攻 坚，按月通报工程进展。同时，深入推动"机械代人"，快施工进度，降低安全风险。 （文章来源：新华财经） 瑞安500千伏输变电工程总投资8.6亿元，新建一座500千伏变电站，变电容量200万千伏安，新建线路9 公里。工程预计每年输送清洁电能70亿千瓦时，可替代燃煤消耗约200万吨，支撑浙江构建"清洁低碳、 安全可靠、高效节能"的新型能源体系。同时，将为未来温州海上风电项目提供新的输送通道，助力温 州乃至浙江能源绿色低碳转型。 瑞安变作为国家电网公司首批、浙江首个500千伏"透明"变电站试点项目，深度融合数字孪生和光明电 力大模型，通过虚实交互、动态仿真、智能巡视、人工智能等技术手段，实现厂站资源精准映射、设备 状态全息感知、作业过程全面管控、业务管理智能协同，深化设备资产全寿命周期精益化管理，提升生 产管控穿透能力与设备健康管理 ...

Core Viewpoint - The recent decline in various renewable energy indices indicates a challenging market environment, while significant investments in energy storage and strategic partnerships signal ongoing opportunities in the sector [1][3]. Market Performance - The China Securities Shanghai Carbon Neutral Index fell by 1.1%, the China Securities New Energy Index decreased by 1.2%, the National Securities New Energy Battery Index dropped by 2.9%, and the China Securities Photovoltaic Industry Index declined by 3.4% this week [1]. - The Energy Storage Battery ETF (159566) attracted nearly 500 million yuan in investments over the first four days of the week, with an additional 15 million shares net subscribed on the last day [1]. Strategic Developments - CATL signed a strategic cooperation agreement with Haibosi Chuang, committing to procure no less than 200 GWh of electricity from 2026 to 2028 [1]. - The National Energy Administration released guidelines to promote the integrated development of renewable energy, emphasizing the optimization of energy source structures and storage configurations in "Shago Desert" renewable energy bases [1]. Industry Outlook - Huatai Securities expressed optimism about the acceleration of the new energy system construction during the 14th Five-Year Plan, highlighting the importance of developing new energy storage and smart grid infrastructure [1]. - The focus remains on the growth of renewable energy and the increase in electrification rates, with companies in the storage, wind power, and grid sectors expected to benefit continuously [1]. Index Composition - The National Securities New Energy Battery Index focuses on the energy storage sector, comprising 50 companies involved in battery manufacturing, energy storage systems, and related fields, which are likely to benefit from future energy development opportunities [3]. - The China Securities Photovoltaic Industry Index includes 50 representative companies across the photovoltaic industry chain, while the China Securities Shanghai Carbon Neutral Index consists of 100 stocks with significant potential for carbon reduction in high-carbon sectors [3]. Historical Performance - The cumulative performance of various indices over the past year shows the National Securities New Energy Battery Index leading with a 61.6% increase, followed by the China Securities New Energy Index at 52.0% [6]. - Over the past three years, the National Securities New Energy Battery Index has shown a positive growth of 11.8%, contrasting with the declines in other indices [6]. Valuation Metrics - The rolling price-to-earnings (P/E) ratios for the indices indicate varying levels of valuation, with the National Securities New Energy Battery Index and the China Securities New Energy Index showing significant investor interest [8].

2025年11月14日，由清华大学、中欧能源技术创新合作办公室指导，四川天府新区管理委员会、清华大学国内合作处、能源互联网国际创新中心主办， 中国可再生能源学会可再生能源动力专委会、清华四川能源互联网研究院、四川省电力行业协会承办的2025第七届能源互联网国际创新峰会暨2025可再 生能源动力技术创新及产业发展大会在成都举办。 图：峰会现场 在主旨报告环节，多位专家学者结合最新研究成果与实践经验，深入解析能源科技创新与产业融合的最新进展，呈现出一场兼具思想高度与专业深度的 学术盛宴。 图：峰会现场 中国工程院院士、南方电网公司专家委员会名誉主任委员李立浧作题为《新能源为主体背景下电力系统平衡理论思考》的特邀报告。他指出，新能源的 发展与实践已将电力系统推至重塑理论和技术体系的历史节点，亟需以电力电量实时平衡的第一性原理构建新型电力系统的平衡理论，并以智能化、透 明化的技术路径为这一理论构建提供坚实支撑。 本次会议以"科技创新与产业创新融合发展"为主题，汇聚来自政府部门、高等院校、科研机构、龙头企业以及国际组织的430余位代表，共同研判能源 转型新趋势，共同探索成果转化新路径，为"双碳"目标下的新型能源体系建设 ...

Core Viewpoint - The renewable energy sector is experiencing significant growth, driven by rising stock prices of companies like TianNai Technology, Xiamen Tungsten, and Jiayuan Technology, which have all increased by over 3% [1] Group 1: Market Performance - The Sci-Tech Innovation Board's New Energy ETFs have seen positive performance, with the Sci-Tech Innovation New Energy ETF and the Yi Fangda New Energy ETF both rising by 1.73% [2] - The estimated scale of the Yi Fangda New Energy ETF is 2.45 billion, while the Sci-Tech Innovation New Energy ETF has an estimated scale of 10.63 billion [2] Group 2: Industry Developments - The National Energy Administration has issued guidelines to promote the integration of coal and new energy, aiming for significant achievements by the end of the 14th Five-Year Plan, with a focus on developing photovoltaic and wind power industries in coal mining areas [2] - The recent surge in the photovoltaic sector is attributed to overseas orders and rising prices of battery components, with a notable order of 4.2 GW secured in the Middle East [3] - The lithium battery component prices have increased significantly, with the price of 6F single units surpassing 131,000, reflecting an increase of 82,000 since August [3] Group 3: Investment Opportunities - The Sci-Tech Innovation New Energy ETF tracks an index with nearly 50% weight in photovoltaics and about 40% in the battery supply chain, indicating strong alignment with current market trends [4] - Major companies like CATL and Sungrow are expected to benefit from the 14th Five-Year Plan, which emphasizes the construction of a new energy system and aims for carbon peak and neutrality [4] - The solid-state battery market is gaining traction, with companies like Xiamen Tungsten and Putailai benefiting from increased demand in the AI era [4] Group 4: Future Outlook - The photovoltaic industry is entering a critical phase, with expectations for long-term benefits for leading companies like Longi and Aiko after a challenging cycle [4] - The AIDC and independent energy storage sectors are poised for growth, supported by policy initiatives and major corporate investments [5] - The overall photovoltaic industry is currently facing an oversupply, but adjustments are being made to align supply with demand, which may enhance future market conditions [5]