【华泰证券:储能短期需求或受影响,长期利于出清且盈利模式多样化】华泰证券指出,短期来看,目前国内储能由配储需求主导,根据储能与电力市场,24年国内储能装机规模达111.6GWh,其中新能源指标带来83.2GWh的储能需求,占比达74.6%,政策将导致短期配储需求受影响。从节奏上看,我们测算目前国内已招标未并网项目体量180~200GWh,仍可支撑2025年装机量,但我们预计2026年装机由于需求承压或将出现下滑;长期来看,电力市场化推进丰富储能终端的盈利模式,储能逐步由强制配储向市场化需求转向,产业链加速优胜劣汰,竞争格局优化,储能行业出清后有望重回增长轨道。

金融界
10 Feb
华泰证券指出,短期来看,目前国内储能由配储需求主导,根据储能与电力市场,24年国内储能装机规模达111.6GWh,其中新能源指标带来83.2GWh的储能需求,占比达74.6%,政策将导致短期配储需求受影响。从节奏上看,我们测算目前国内已招标未并网项目体量180~200GWh,仍可支撑2025年装机量,但我们预计2026年装机由于需求承压或将出现下滑;长期来看,电力市场化推进丰富储能终端的盈利模式,储能逐步由强制配储向市场化需求转向,产业链加速优胜劣汰,竞争格局优化,储能行业出清后有望重回增长轨道。

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