Core Viewpoint - The continuous growth of new energy storage installations is expected to enhance the power system's regulation capability and further expand the consumption space for renewable energy [1] Group 1: New Energy Storage and Renewable Energy - The self-generated electricity is likely to provide economic benefits for green electricity direct connection projects, stimulating the expansion of user-side applications for renewable energy generation [1] - Recent acceleration in the issuance of renewable energy subsidies, the gradual implementation of provincial document No. 136, and increased investment in new energy storage are opening up consumption space for renewable energy [1] - The combination of these factors is prompting a reevaluation of the value of new energy operators [1] Group 2: Traditional Energy Sources - There is a continued focus on the reliability and flexibility of traditional energy sources such as thermal power, hydropower, and nuclear power, which are expected to maintain their value [1]

Group 1 - The core viewpoint emphasizes the acceleration of renewable energy subsidies and the implementation of various policies that enhance the value reassessment of new energy operators [1][2] - The new storage revenue model is being refined, with a target of 180 million kW of installed capacity by 2027, nearly doubling from 95 million kW at the end of June 2025 [1] - The establishment of a reliable capacity assessment mechanism for traditional power sources is highlighted, which will objectively reflect their contribution to the power system's capacity [3] Group 2 - The implementation of green electricity direct connection fees is expected to promote nearby consumption of renewable energy, with cost savings on system operation fees for self-generated electricity [2] - The capacity compensation mechanism is anticipated to benefit high-reliability traditional power sources such as thermal, nuclear, and large hydropower [3] - The policies aim to enhance the trading mechanisms for electricity, supporting long-term agreements between renewable energy, nuclear power companies, and electricity users [3]