预计今年美国将增加33吉瓦的太阳能发电量。 美国能源信息署（EIA）周三表示，开发商今年有望在美国增加33吉瓦的太阳能发电量，约占该国2025 年计划新增发电量的一半。 基于对开发商的调查，美国能源信息署预计，美国的大规模太阳能发电量将达到历史最高水平。与此同 时，用于储存太阳能和其他能源的新电池储能系统规模也可能在2025年创下年度纪录。 除了太阳能以外，风力发电和天然气发电将占新增产能的其余部分。 去年，得克萨斯州超过加利福尼亚州成为太阳能发电规模最大的州，占2025年迄今为止太阳能发电量的 四分之一以上。在今年剩下的时间里，该州计划再增加9.7吉瓦的太阳能发电量，占同期美国计划开发 的太阳能发电量的近一半。得克萨斯州晴朗的天气、大量土地的可用性和快速增长的电力需求吸引了太 阳能的发展。 太阳能不会产生造成全球气候变暖的温室气体排放，使其成为美国各州脱碳计划的核心，同时也满足了 大型科技公司和其他扩张行业带来的创纪录的高电力需求。然而，过去几年推动太阳能发展的许多联邦 政府财政激励措施将在特朗普政府领导下减少，这给该技术的未来发展增加了不确定性。 本月16日，美国政府公布了新的清洁能源企业税收抵免资格指引 ...

Group 1 - The core viewpoint of the report indicates that despite a 3.2% decline in electricity sales volume for Hongkong Electric (港灯-SS, 02638) in the first half of the year, the attributable profit increased by 5.7% [1] - The company maintained a distribution of 15.94 cents per unit for the first half of the year, reflecting its stable financial position [1] - DBS has adjusted its earnings forecast for Hongkong Electric and raised the target price from HKD 6.5 to HKD 7.4, while increasing the target price-to-earnings ratio from 17x to 20x to reflect improved investor sentiment [1] Group 2 - Hongkong Electric has a generation capacity of 3,617 MW and is a major electricity supplier for Hong Kong Island and Lamma Island, regulated by the Hong Kong government under the Scheme of Control Agreement (SCA) [1] - The company is investing in decarbonization initiatives and aims to phase out all coal-fired power plants by 2035, with over 50% of its electricity coming from natural gas in 2024 [1] - A liquefied natural gas terminal is under construction to facilitate the transition to gas-fired generation, which is expected to increase the proportion of natural gas generation to 70% [1] Group 3 - The report notes that global fuel price weakness will reduce net electricity fees in 2025, but Hongkong Electric enjoys stable cash flow due to its provision of highly reliable electricity supply services in a mature market [2] - The company's balance sheet remains robust, with a debt-to-capital ratio of 51.4% in the first half of 2025, stable compared to 51.1% in the first half of 2024 [2] - Approximately 73% of the company's debt structure is fixed-rate, minimizing interest rate risk, and long-term debt (over five years) accounts for 38% of total debt [2]