In the past decade, China has made rapid technological progress in fields such as photovoltaics and wind power. The cost of solar cell modules has decreased by over 90% since 2012, and there has also been a significant improvement in power generation efficiency; Through the development of large-scale wind turbines, the cost of wind power has decreased by more than 70%. However, the application and substitution of new technologies often take a long time, and there are still a large number of early products in the existing facilities in operation. By improving the standards for upgrading and retiring wind turbines, photovoltaic equipment, and products, accelerating the research and development of residual life assessment technology for wind and photovoltaic products, and orderly promoting the cascading utilization of product equipment and key components, not only can the operational efficiency of the energy and power system be improved, but also high-quality investment can be promoted, promoting the upgrading and transformation of the upstream and downstream of the power industry chain, and enhancing the international competitiveness of China's power equipment manufacturing industry.
Large scale equipment updates help improve the operational efficiency and stability of power equipment, reduce failure rates, and ensure the reliability and safety of power supply. At the same time, the trade in initiative helps to promote technological innovation in the power industry, increase the proportion of clean energy, and promote green and low-carbon development. Implementing recycling and cascading actions can improve resource utilization efficiency and reduce energy costs. Improving relevant standards is conducive to regulating market order, improving product quality, and providing strong support for the development of the power industry.
The construction of China's electricity market has been steadily advancing, but why are there still bottlenecks in this industry? Equipment updates and technological renovations require a large amount of capital investment, and the scale of equipment in the relevant fields of the power industry is huge, resulting in high update costs.
In this regard, the Action Plan proposes to increase fiscal policy support. Include eligible equipment updates and recycling projects within the scope of central budget investment and other financial support.
Undoubtedly, with the launch of large-scale equipment renewal policies, the Action Plan will bring new market opportunities to the power industry.
According to a research report by CITIC Securities, the State Council has launched a large-scale equipment renewal plan, vigorously promoting the updating and technological transformation of production equipment, energy consumption equipment, power generation and distribution equipment, and other related equipment. The equipment updates and renovations in the power equipment sector will take energy conservation, emission reduction, and digital construction as the starting point. Firstly, the renovation and construction of thermal power equipment will focus on the demand for boiler tubes and other materials; The second is the upgrading and renovation of the distribution network, with a focus on upgrading inefficient distribution transformers and accelerating energy efficiency upgrades with more medium and low voltage equipment on this basis; The third is energy-saving renovation of motors, with a focus on frequency converters, etc; The fourth is the demand for smart meters under the goal of State Grid's intelligence.
Hong Yong, a think tank expert at the China Digital Real Integration 50 Person Forum, told reporters that the implementation of the Action Plan will drive huge development space in the power equipment manufacturing and service market, including but not limited to the production, sales, upgrading and replacement services of new power generation equipment, smart grid equipment, and energy storage facilities. At the same time, it will also catalyze a more complete circular economy market, such as second-hand equipment trading, scrapped equipment recycling, and key component remanufacturing, all of which will usher in new development opportunities.
In the past decade, China has made rapid technological progress in fields such as photovoltaics and wind power. The cost of solar cell modules has decreased by over 90% since 2012, and there has also been a significant improvement in power generation efficiency; Through the development of large-scale wind turbines, the cost of wind power has decreased by more than 70%. However, the application and substitution of new technologies often take a long time, and there are still a large number of early products in the existing facilities in operation. By improving the standards for upgrading and retiring wind turbines, photovoltaic equipment, and products, accelerating the research and development of residual life assessment technology for wind and photovoltaic products, and orderly promoting the cascading utilization of product equipment and key components, not only can the operational efficiency of the energy and power system be improved, but also high-quality investment can be promoted, promoting the upgrading and transformation of the upstream and downstream of the power industry chain, and enhancing the international competitiveness of China's power equipment manufacturing industry.
Large scale equipment updates help improve the operational efficiency and stability of power equipment, reduce failure rates, and ensure the reliability and safety of power supply. At the same time, the trade in initiative helps to promote technological innovation in the power industry, increase the proportion of clean energy, and promote green and low-carbon development. Implementing recycling and cascading actions can improve resource utilization efficiency and reduce energy costs. Improving relevant standards is conducive to regulating market order, improving product quality, and providing strong support for the development of the power industry.
The construction of China's electricity market has been steadily advancing, but why are there still bottlenecks in this industry? Equipment updates and technological renovations require a large amount of capital investment, and the scale of equipment in the relevant fields of the power industry is huge, resulting in high update costs.
In this regard, the Action Plan proposes to increase fiscal policy support. Include eligible equipment updates and recycling projects within the scope of central budget investment and other financial support.
Undoubtedly, with the launch of large-scale equipment renewal policies, the Action Plan will bring new market opportunities to the power industry.
According to a research report by CITIC Securities, the State Council has launched a large-scale equipment renewal plan, vigorously promoting the updating and technological transformation of production equipment, energy consumption equipment, power generation and distribution equipment, and other related equipment. The equipment updates and renovations in the power equipment sector will take energy conservation, emission reduction, and digital construction as the starting point. Firstly, the renovation and construction of thermal power equipment will focus on the demand for boiler tubes and other materials; The second is the upgrading and renovation of the distribution network, with a focus on upgrading inefficient distribution transformers and accelerating energy efficiency upgrades with more medium and low voltage equipment on this basis; The third is energy-saving renovation of motors, with a focus on frequency converters, etc; The fourth is the demand for smart meters under the goal of State Grid's intelligence.
Hong Yong, a think tank expert at the China Digital Real Integration 50 Person Forum, told reporters that the implementation of the Action Plan will drive huge development space in the power equipment manufacturing and service market, including but not limited to the production, sales, upgrading and replacement services of new power generation equipment, smart grid equipment, and energy storage facilities. At the same time, it will also catalyze a more complete circular economy market, such as second-hand equipment trading, scrapped equipment recycling, and key component remanufacturing, all of which will usher in new development opportunities.
