新能源行业:1-5月风/光抢装明显 预期下半年装机需求回归理性

交银国际
Jun 26, 2025

中国内地光伏/风电2025 年5 月单月新增装机同比大升388%/801%。 其中光伏新增装机更创出了月度新高92.9GW;风电新增装机26GW,为2024年12 月新增装机量的94%。5 月的抢装是在我们预期之内,原因是136 号文 《关于深化新能源上网电价场化改革促进新能源高质量发展的通知》订出,以今年6 月1 日为节点划分存量与增量项目。存量项目可继续享受较有保障性的上网电价,而增量项目需...

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