EU raises 2030 renewable energy target! Wind power and photovoltaic installed capacity increased by 2 times!

the European Parliament officially passed a resolution to increase the renewable energy target of EU countries in 2030 from 32% to 42.5%.

Recently, the National Energy Administration released national power industry statistics from January to August. In terms of new energy power generation installed capacity, China's cumulative newly installed photovoltaic capacity reached 113.2GW from January to August 2023, a year-on-year increase of 154.5%, and the cumulative newly installed wind power capacity reached 28.9 GW, a year-on-year increase of 79.2%; in August, the newly installed photovoltaic capacity was 16.0GW, a year-on-year increase of 137.4%, and the newly installed wind power capacity was 2.61GW, a year-on-year increase of 115.7%.

In terms of demand, the large-scale start-up and implementation of centralized photovoltaic projects provide the main growth momentum. At the same time, against the background of rising electricity prices and increasingly active power transactions, distributed demand remains strong, driving upstream shipments to continue to grow.

Since entering 2023, the newly installed photovoltaic capacity has increased significantly year-on-year. Currently, centralized ground projects have begun construction one after another. Large wind and solar bases have given strong support to the installed capacity of ground projects. The first batch of large wind and solar bases has a total planned installed capacity of 97.05GW. All construction has now started. The total planned installed capacity of the second batch is 455GW, of which 255GW is planned to be put into operation during the 14th Five-Year Plan, and 200GW is planned to be put into production during the 15th Five-Year Plan. Construction has begun one after another, and the third batch is also under planning. At the same time, against the background of rising electricity prices and increasingly active power trading , distributed demand remains strong, driving upstream shipments to continue to grow.

At the same time, the scale of newly installed wind power in China has also maintained a high year-on-year growth trend. As restrictions are gradually lifted in the future, it is expected to drive strong construction starts. The production schedule and delivery of the industrial chain in 23Q4 may be further improved. It is expected that the newly installed capacity in 2023 is expected to reach 60GW. , achieving high year-on-year growth. In terms of sea breeze construction progress, many domestic sea breeze projects have recently achieved phased construction results. Domestic sea breeze production and delivery are expected to start in October, and the industry boom may pick up. Guolian Securities (601456) predicts that the new domestic sea breeze installed capacity in 2023 is expected to reach 5-6GW. .

Guolian Securities pointed out that installed capacity grew rapidly in the first half of the year, and it has raised its forecast for photovoltaic installations for the whole year. In 2023, the scale of new domestic wind and solar installed capacity is expected to reach 235GW (wind power 60GW + photovoltaic 175GW), with wind power and photovoltaic increasing by about 60% and 100% respectively year-on-year. Against the background of strong demand, the industry chain is expected to benefit as a whole.