Domestic photovoltaic power station market usher in new development opportunities
Many companies are operating at full capacity
On August 30th, the National Development and Reform Commission issued the Notice on Exploiting Price Leverage to Promote the Healthy Development of the Photovoltaic Industry and the Notice of the National Development and Reform Commission on Relevant Matters concerning the Adjustment of Renewable Energy Price Additional Standards and Environmental Protection Electricity Prices. The quality of optical resources was implemented in three areas: benchmarking on-grid tariffs, which were 0.9 yuan/kWh, 0.95 yuan/kWh, and 1 yuan/kWh respectively; distributed photovoltaic subsidies were 0.42 yuan/kWh. The zone benchmarking price policy applies to the photovoltaic power station projects that were filed (approved) after September 1 this year and filed (approved) before September 1st, but were put into operation on or after January 1, 2014. The implementation deadline for benchmarking on-grid tariffs and tariff subsidies is, in principle, 20 years. Affected by this, many domestic listed photovoltaic companies stated that the company has entered full-load production status.
Xu Xiaojun, a representative of Oriental Risheng Securities, recently told Century New Energy Network that as the only PV listed company in Ningbo, the company benefited from the start-up and construction of the Ningbo Distributed Photovoltaic Demonstration Zone and the further implementation of the domestic PV FIT subsidy policy. The company has achieved Full production. It is reported that in the recent period of time, Oriental Sunrise has been working without a shift for 24 hours. This status will continue from the current order at least until the end of the year.
Hong Qijun, chairman and chief executive of Hanwha Solar Energy, also stated that the company is also operating at full capacity and said that the solar industry will gradually improve in the rest of 2013 and 2014 and 2015 will be even better and profitable. Another domestic PV company, Artes Solar, stated that the 2Q13 full-year financial report predicts that the company is a step away from profit. As the leading domestic component manufacturer, Jinko Energy Holdings Co., Ltd. announced its second quarter earnings report on August 14, 2013. The gross profit margin was 17.7%, which was a 5% increase from 1Q13 and a 9.3% increase from 2Q12. This is the company's profit for the first quarter since the third quarter of 2011. It has become one of the first Chinese solar energy companies to achieve profitability in this cycle of photovoltaic industry.
Component price rises
Thanks to the domestic electricity price subsidy policy, the expected revenue of the domestic power station is clear, and the domestic photovoltaic market has officially entered the period of rush-installing since September. According to statistics from Century New Energy Network, the domestic tendering capacity for power station related procurement in August 2013 has exceeded 2GW. For large and medium-sized PV companies, orders will be relatively large in the recent period, and the volume of large orders exceeding 10MW will increase sharply. Considering the pressure of production due to the tight implementation time of domestic projects, the domestic market is foreseeable. Component prices and payment terms should be even better in October and November. At the same time, a number of company sales managers said that future module prices will rise further.
From the overall international perspective, the market that is most suitable for the development of China's photovoltaic companies is the domestic market, and from the short-term perspective, large-scale orders for large-scale photovoltaic projects have higher chances than the construction of distributed power plants. Therefore, the spring time of the domestic power plant will be relatively long, and the conservative estimate should be at least one year or more. With the success of various policies in 2014, the domestic photovoltaic power station market will develop blowout.
Policy continues to improve
I. The National Development and Reform Commission has issued the "Circular on Exploiting Price Leverage to Promote Healthy Development of the Photovoltaic Industry" and the "National Development and Reform Commission Notice on Relevant Matters concerning the Adjustment of Renewable Energy Prices Additional Standards and Environmental Protection Electricity Prices". It is clear that photovoltaic power plants are superior to light sources. The benchmark electricity tariffs in the three regions were implemented at a rate of 0.9 yuan/kWh, 0.95 yuan/kWh, and 1 yuan/kWh, respectively; distributed PV subsidies were 0.42 yuan/kWh. The source of funding for PV subsidies is to add renewable energy from the previous 8 cents to 1.5 cents per degree. This increase doubled the overall grant, which was much higher than the previous rise in the industry's forecast of 1 point. "In this way, 10GW of new PV installations will be added each year this year and next year. There should be no pressure."
Secondly, Tan Zaixing, Director of the New Energy Assessment Department of China Development Bank, revealed in August 2013 that China National Energy Administration and China Development Bank are planning to jointly issue a document to support distributed photovoltaic power generation financial services, and introduced the “Promotion of Distributed Photovoltaic Development of Financial Services Opinions." The support field will transform the thinking of large-scale ground projects in the past and expand the scope of support to power companies, distributed distributed power generation projects and natural persons, of which natural persons are a major attraction. It is reported that the draft of the current draft has already been issued by the Energy Bureau and is being revised at the latest. It is expected to be issued at the earliest in September. If the policy is released on schedule in September, it will bring good news to home-style distributed photovoltaic power generation.
Domestic photovoltaic market opportunities
Industry sources pointed out that the issuance of the "Circular on Exploiting Price Leverage to Promote Healthy Development of the Photovoltaic Industry" announced by the National Development and Reform Commission recently marked the beginning of the era of FIT-based electricity subsidy for China's photovoltaic industry. At present, the return on investment in photovoltaic power plant construction under this policy is reasonable and even somewhat high. Secondly, the full power subsidy of 0.42 yuan / kWh, to avoid the previous investment subsidies in the main gold sun policy in the various problems, at the same time shows that the path for subsidies for renewable energy development funds.
The bottom-up income of distributed photovoltaics is the local “benchmark price +0.42 yuan/kWhâ€, while under normal circumstances the electricity price is higher than the benchmarked on-grid price of local coal-fired units, so the higher the proportion of self-use, the higher the return. This will stimulate enterprises and institutions with large electricity consumption to carry out various forms of in-depth cooperation with the photovoltaic power plant EPC. For the distributed self-use part of the power, it is free of all kinds of funds and additional funds, which means that the amount of power generated by the distributed photovoltaic power generation system is direct income without any discount. At the same time, system spare capacity fees and other related expenses are waived, and the cost of grid connection is reduced. This will further reduce the burden on the power plant owners and further stimulate the rapid development of the photovoltaic market.
Since the price policy has basically been settled, the previously accumulated projects will erupt, and it is expected that there will be a large number of projects launched from now until next year. This period will be the best period for domestic PV product sales and power station construction, and after some time After the rapid development, the state's on-grid tariff and subsidy policies should also undergo a one-to-a-half deep downturn.
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