[SMM PV] Green electricity direct connection policy upgrade: Expanding from "one-to-one" to "one-to-many"

Another report in People’s Daily today focused on the response strategies of Zhejiang’s PV industry. Zhejiang’s PV industry ranks among the top nationwide in scale and grid-connected installations, and its enterprises are accelerating the transformation from “product going global” to “brand going global” and “capacity going global.” Chint New Energy stated that it secured a large PV+ESS project in Turkey in March this year, with all modules supplied by its local factory in Turkey, and provided a full-chain one-stop solution covering modules, ESS, and construction. AIKO believes that the cancellation of export tax rebates marks the PV industry’s entry into the era of “value going global,” and the key lies in accelerating the exit of outdated capacity. The cancellation of export tax rebates will prompt PV enterprises to gradually shift from low-price competition to technological upgrading, continuously driving their products toward high quality and high efficiency.

[SMM Silicon-Based PV Morning Meeting Minutes] Polysilicon: Quoted prices for N-type recharging polysilicon are 32.7-35 yuan/kg. Polysilicon prices are overall relatively weak, market transactions are weak, the earlier order signing has concluded, and the current focus is mainly on shipments while awaiting further policy developments. Wafers: Market prices for 18X wafers are 0.88-0.9 yuan/piece, 210RN wafers are 0.98-1.00 yuan/piece, and 210N wafers are 1.18-1.2 yuan/piece. Currently, the three top-tier players are all holding prices, with overall transactions more optimistic than expectations, but recently facing pressure from both the cell and polysilicon ends.

On June 9, the PV ETF Guotai (159864) surged nearly 3%, drawing attention to PV+ESS synergy and new-type power grid construction. CSC Financial pointed out that the construction of AI computing centers places higher demands on power supply and new-type power grids, and areas such as power equipment, energy storage, transformers, power distribution, and computing-power synergy are expected to become important extensions of the computing power industry chain. Against the backdrop of China’s entire-industry-chain advantages in power equipment, North America’s continuously growing AI computing power investment, and Europe’s urgent need for energy transformation, the power and grid sectors are expected to rise. During the 15th Five-Year Plan period, the State Grid Corporation of China’s fixed asset investment is expected to reach 4 trillion yuan, a 40% increase compared to the 14th Five-Year Plan; completed investment in power grid infrastructure saw a significant YoY rise, and the central range of grid capital expenditure shifted notably upward. At the policy level, the planning and construction of the “six networks” including “new-type power grids” is being emphasized, with investment in related fields projected to be enormous, and the main policy thrust has shifted to systematically shoring up weak links in infrastructure.