New Deal landing photovoltaic distributed to worry about

Yesterday, the National Energy Administration issued the "Notice on Further Implementing the Related Policies for Distributed Photovoltaic Power Generation" (hereinafter referred to as the "Notice"), indicating that the new policy of supporting distributed long-distance power generation has finally come into being. In the "Notice", there are no shortages of highlights such as the adjustment of the degree of electricity subsidies to the benchmark price, the allocation of eastern barren beach and other areas classified as distributed.

Photovoltaic industry analysts believe that after the introduction of the New Deal, the total grid-connected scale of 13-15GW this year will be a strong guarantee. The industry hopes that more detailed local implementation rules and financial institutions such as banks can follow up in a timely manner.

Breakthrough in content

The contents of the "Notice" announced this time are basically in line with the contents of the speech delivered by Wu Xinxiong, director of the National Energy Administration, on distributed photovoltaic power generation in early August. “But we have expanded some of the content and refined the controversial areas.” Owen Kay, a CV investment expert from China National Glass Group, said that for example, the roof clearly follows benchmark prices. Han Qiming, an analyst at Shenyin Wanguo Power and the new energy industry, believes that the “Notice” addresses five issues, namely “who will come to the bottom of the price”, “quota release”, “how to connect to the grid,” and “where does the money come from? "And who wants money to go."

The industry generally believes that the entire amount of power generated by the "Notice" of the "full-on-line" project is acquired by the grid companies according to the on-grid tariffs of the local PV power plants. "Spontaneous use" can be converted to "full-rate access" under certain conditions. Important innovation. Implementing the benchmark price of photovoltaic power plants will eliminate investors' worries about the recovery of electricity charges.

According to the Huachuang Securities Research Report, this means that the profitability of distributed PV projects is guaranteed, ie the lowest rate of return is more than 8% under the benchmark price. Once this policy is implemented, on the one hand, the funds in the state of distributed photovoltaics will quickly flow into the waiting-and-seeping state. In the first half of the year, the roof projects that the company has agreed on will begin to accelerate its construction. On the other hand, once the profitability of a distributed project has reached the bottom, after a period of cash flow verification, the financing channels will be more open.

Waiting for local regulations

It is worth noting that the "Notice" also solves the problem of extended definition of distributed photovoltaics. It stipulates that photovoltaic power stations built on waste land, barren hills and slopes, agricultural greenhouses, mudflats, fish ponds, and lakes will be constructed on the ground, or use non-power consumption facilities such as agricultural greenhouses, and be connected to voltage levels of 35 kV and below. The photovoltaic power station projects that enter the power grid (66 kV in the northeast region and below) and the single project capacity does not exceed 20,000 kilowatts, and the generated power is mainly consumed in the grid-connected radio stations are all listed in the category of distributed photovoltaic power plants. The industry believes that once implemented, companies will give priority to the construction of such large-scale distributed projects, and the construction of the industry will accelerate significantly. It is expected that distributed installations in the year will exceed 4 GW, and the annual installed capacity of photovoltaics will also exceed 15 GW.

Ding Wenlei, executive director of Hanghu Solar Energy, told reporters: “The long-awaited policy of the Energy Bureau is on the ground, and the next step is to implement detailed rules in more detail. At the same time, coordination of electricity and banking is also very important.”

The "Notice" issued this time involved the content of distributed photovoltaic financing innovation, which is more detailed than the previous draft of the draft. For example, banks and other financial institutions are encouraged to explore various innovative loan mechanisms for distributed photovoltaic power generation projects. Encourage local governments to provide discounted loan facilities and establish loan mechanisms that use personal income and other credit conditions.

"Distributed entry barriers are not high. For companies in the entire sector, they can quickly enter the market in the future," said Han Qiming. According to incomplete statistics, Jiangsu Minda, Rainbow Refine, Fangda Group and other companies have transformed their distribution of distributed photovoltaic power generation projects. Linyang Electronics and Anting Shanghai International Automobile City and the International New Energy Vehicle Demonstration Zone recently developed and constructed distributed photovoltaic power plants in the International Automobile City and signed the "Strategic Cooperation Framework Agreement", which has aroused market concern.

The industry predicts that as the New Deal lands and enters the peak season of wind power and photovoltaic installed capacity in the third quarter, the power station construction will focus on an outbreak, driving the industrial chain to go up.