Industry perspective
Energy construction: The “14th Five-Year Plan for Renewable Energy Development” was issued, and the Energy Administration raised the guidelines for photovoltaic grid connection in 2022. On June 1, nine departments including the National Development and Reform Commission and the National Energy Administration jointly issued the “14th Five-Year Plan for Renewable Energy Development”. In 2021, the national renewable energy and non-water renewable energy consumption weights will be 29.4% and 13.7% respectively. To reach 33% and 18% in 2025, the consumption weights of renewable energy and non-water renewable energy will increase by 0.9% and 1.08% annually on average. my country’s total electricity consumption in 2021 is 8,312.8 billion kWh. According to the average annual growth rate of 4-4.5%, by 2025, my country’s national electricity consumption will be 972.48-9,913.2 billion kWh, corresponding to an annual power generation of 17,505 non-water renewable energy sources. -1,784.3 billion kWh, an increase of 611.6-645.5 billion kWh compared with 2021, which requires an additional 400GW of wind and solar installed capacity. In fact, according to the development of my country’s wind power and photovoltaic industries, the average annual newly installed capacity from 2022 to 2025 will far exceed 100GW/year. On May 30, CCTV reported that the latest data from the National Energy Administration showed that as of now, the photovoltaic power generation projects under construction are 121 million kilowatts. 155GW of new energy installed capacity.
New energy vehicles: The policy stimulus superimposed the increase in oil prices, and the negative impact of the price increase of new energy vehicles was eliminated. The release of auto consumption at the central level is good, and the introduction of policies to stimulate auto consumption in various regions has gradually started to pick up the auto market. We believe that under the trend of rising gasoline prices, the cost of using fuel vehicles will increase. Stimulated by the new energy vehicle consumption subsidy policy, the negative impact of new energy vehicle price increases will be eliminated, and consumers’ willingness to buy new energy vehicles will continue to increase. It is estimated that by 2022 The new energy vehicle market will maintain rapid growth in 2018, and the sales of new energy passenger vehicles will exceed 5.5 million units.
Investment in power grids: State Grid and China Southern Power Grid issued measures to stabilize the economy. State Grid has released eight measures to contribute to stabilizing the overall economic market. In 2022, it will invest more than 500 billion yuan in power grids, reaching the highest level in history, and it is expected to drive social investment of more than 1 trillion yuan. China Southern Power Grid announced that it has recently arranged a new 10 billion yuan investment in grid fixed assets to ensure safe production, reliable power supply, and new energy supply and consumption. The energy field is also an important starting point for stable growth. The moderate advance construction of my country’s energy infrastructure will be beneficial to the power equipment industry.
Important Industry Information
The EU’s energy transition is accelerating again, and it is expected that the installed capacity of renewable energy will reach 1,236 million kilowatts in 2030. Recently, as a legislative proposal to the European Parliament, the European Commission (hereinafter referred to as “EU”) announced the latest RePowerEU action plan – “European Joint Action on Affordable, Safe and Sustainable Energy”. The Action Plan released this time sets targets for renewable energy, increases the EU’s 2030 renewable energy development target from 40% to 45% of energy supply, and accelerates the approval process for renewable energy projects, which means The EU’s installed renewable energy capacity is expected to increase from the current 511 million kilowatts to 1236 million kilowatts in 2030. The “Action Plan” also pointed out that by 2030, the EU’s photovoltaic installed capacity will increase to 600 million kilowatts.
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