On July 25th, the two markets opened low and oscillated, with the photovoltaic sector leading the rise against the trend. As of 10:40, Foster rose by 9.97%, and the energy ETF (516160.SH) rose by 1.52%.
Huachuang Securities analysis pointed out that according to the National Energy Bureau, in the first six months of 2024, the domestic new PV installed capacity was 102.48GW, a year-on-year increase of 31%; among them, the new PV installed capacity in June was 23.33GW, a year-on-year increase of 36% and a month-on-month increase of 23%. With the relaxation of the consumption red line to 90%, the progress of centralized project grid connection is expected to accelerate. Due to fluctuations in electricity prices and policy adjustments, the demand for household terminals is relatively weak, and the growth rate has slowed down; commercial and industrial projects have performed well, supporting distributed installation. Looking forward to 2024, the prices of the industry chain are running at a low level, the terminal installation costs have improved, the project yield has increased and stimulated downstream installation demand, and the second half of the year is coming for the traditional seasonal installation boom of domestic ground power stations, and the domestic new PV installed capacity is expected to achieve rapid growth. Looking ahead to the future, it is recommended to pay attention to the configuration opportunities of the new energy ETF (516160.SH).
