Polaris solar PV net news: on November 19, the State Council issued on issuing the strategic action plan for energy development (2014-2020) of the notice. Investment opportunities in the energy sector in the coming years can be extended from angle of new energy industry of power equipment, there are generally two aspects of the judgment and of eight chances. Comments:
One, two and three overall rating:
1, marketization, clean energy is the future direction of Chinese energy is being upgraded, have been able to go. Referred to in the plan, accelerate the construction of clean, efficient, safe and sustainable modern energy systems; the development of clean and low-carbon energy as the main direction of the adjustment of energy structure; a substantial increase in renewable energy such as wind, solar, geothermal and nuclear power consumption. Energy development while shouldering the heavy responsibility of the great rejuvenation of the Chinese nation, and energy in the process of upgrading has been going out of power.
2, master plans and files before the data is a summary of, and did not exceed the expected places. Referred to in the plan, by 2020, the proportion of non-fossil fuels in primary energy consumption reached 15% (2030 goal is 20%), natural gas reached 10% per cent, coal consumption to less than 62% (2015 goal is 65%); by 2020, the total primary energy consumption control about 4.8 billion tons of standard coal, coal consumption is 4.2 billion tons around. Energy self-sufficiency at around 85%, petroleum reserve-production ratio rose to 14-15, energy reserve and emergency system have been completed.
Investment opportunities in er、Bage:
1, PV: space is large, distributed is the direction. Mentioned in the plan of accelerating the development of solar power, explains the future of PV space is huge, domestic relative to Germany’s photovoltaic power generation still has nearly 10 times growth per cent of space (less than 1% shares of domestic); goal: by 2020, solar PV installed capacity of around 100 million-kilowatt, photovoltaic and grid sales price. The plan refers to optimize energy structure and develop the eastern part of integrated urban energy planning, need to develop distributed PV; proportion of distributed PV the future should reach more than 50%. We believe that the PV development for distributed applications and scale of future photovoltaic program has raised possible proposals concern power plants business, company: linyang electrical steel, senyuan electric, Seiko, and focuses on investment opportunities in clean energy platform of Government, under the subject of a number of new distributed labels.
2, wind power: new installed capacity has reached a peak, market segments such as operations, offshore wind energy is an opportunity. Referred to in the plan to develop wind power, focusing on planning and construction in Jiuquan, in Western Inner Mongolia, Eastern Inner Mongolia, Northern Hebei, Jilin, Heilongjiang, Jiangsu, Shandong, Hami, 9 large modern wind power base, and supporting the transmission project; with a focus on South and East, developing decentralized wind, steady development of offshore wind energy. Goal: by 2020, wind power installed capacity reached 200 million-kilowatt, electricity feed-in tariff of wind power and coal. We believe that the new installed capacity of wind power this year may more than 20GW (total exceeded 100GW) installed there is no breakthrough in the future, so COMMUNICATION please read the disclaimer and disclosure the last page has a comprehensive opportunity, opportunity to restructuring and market opportunities of high quality faucet company: goldwind science and technology, dajin, and so on.
3, new energy vehicles: clean, energy security, the main traffic. Referred to in the plan, accelerate the development of purely electric vehicles, hybrid vehicles, natural gas vehicles and ships and ships, expand the scale of fuel substitution; pace of actively promoting the industrialization of clean-energy vehicles and ships, improving vehicle fuel economy standards and environmental standards. We believe that electric cars are the future development trend of market positioning, to rely on subsidies are not sustainable; promising a specific pattern of EV (mini cars, utility vehicles, and other location, leasing patterns, such as the Internet), hybrid development; no matter what development, electrification is the trend, and is good for raw materials. Company: lion technology, corun, Shanshan shares, and so on. Public transit infrastructure is to clean the charging operation, the company: clou electronics, shares of horses, and so on.
4, nuclear power: this is picked up, short topics, long-term probably exceeded expectations. Country in the medium and long-term nuclear power development plan (2011-2020) on nuclear power development’s size, layout, and clarified the requirements for technical routes by 2020, China’s nuclear power installed capacity reached 58 million-kilowatt in transit, under construction 30 million-kilowatt; the number has not changed, the current recovery phase is expected; plus nuclear power at the highest levels of promotion, are going out of the imagination. However, nuclear power accounted for about 10% of the world’s electricity, per cent of China’s total generating capacity of about 2%, still can see the domestic market has exceeded expectations for a long time. Current phase is to obtain excess returns in the short, and gaming.
5 key benefits of UHV, electric power equipment. The plan refers to coal base construction of rtvu: major construction in xilingol, Ordos, North, Central, jindong in Shaanxi Province, Hami, Eastern, ningdong 9 qianwanqianwa grade large coal-electricity base; the development of long distance bulk power transmission technology, expand the scale of transmission from West to East, implementation of the North-South transmission project. In our view, UHV is now at the national level to advance, coupled with separation between transmission and distribution grid companies may pay more attention to the construction of UHV even UHV is one important weight we go, future industry trends in 3-5 better. Company: pinggao electric, XJ.
Topic 6, new technologies, new applications, or advance investment: energy storage, distributed power generation, hydrogen energy and other concerns. The plan refers to innovation-driven strategy, we also need to pay attention to the capital market to promote new technologies and new applications. Set out in the paper distributed energy and smart grid, advanced next-generation nuclear power, renewable energy, energy conservation, water conservation, energy, basic materials, 9 key innovation areas, specifically modern power systems, advanced nuclear power, photovoltaics, solar thermal power, wind power, Ocean power and large capacity to store energy, hydrogen energy and fuel cells, energy and basic materials, such as direction of 20 key innovations. Company: San Yang shares, such as narada.
7, overseas market opportunities: national champion out of the chance of going. Plans mentioned expand energy international cooperation, accelerated developed using overseas energy resources medium-and long-term planning, focus on expand imports channel, focus on construction Silk Road economic with, and 21st century sea Silk Road, and Meng in the printed Myanmar economic corridor and CMB economic corridor, active support energy technology, and equipment and engineering team “out of to”; strengthened Russia Central Asia, and Middle East, and African, and Americas and Asia-Pacific five big focus energy cooperation regional construction, deepening international energy bilateral multilateral cooperation, established regional energy trading market; Actively participate in global energy governance. We believe that going out is with the country’s strong move, and peptic viable domestic production capacity, enhance the company’s competitiveness. Company: may directly or indirectly to many leading out.
8, market and opportunity to clean: change, carbon taxes, and so on. Opportunities for reform: the plan refers to advance the reform of energy prices. Promoting the reform of prices for oil, natural gas, electricity and other fields, and ordered open competitive part prices, wellhead natural gas price and sales price, price and the sale price by the market, and oil and gas pipeline transmission and distribution prices prices are priced by the Government about the ability to sell electricity, electricity sales enterprises. Opportunity to clean: the plan refers studies adjusted energy excise tax and duty, to be part of high energy-consuming and highly polluting products into the scope; improve energy conservation tax policy, establish and improve the mechanism of ecological compensation, speeding up the tax legislation of environmental protection work, to explore the establishment of green taxation system which will improve the performance of solar and other clean energy.
Risk factors: policy does not reach expectations; markets short of demand for market risk.
Original title: electrical equipment (0723): from “energy seven-year plan to” see “eight great opportunities in the future”