電氣設(shè)備行業(yè)2019年年度策略報告風(fēng)電制造環(huán)節(jié)盈利復(fù)蘇，特高壓建設(shè)加速

1、正文目錄正文目錄一、2018年回顧：電氣設(shè)備板塊整體跑輸大盤......................................5二新能源：開工密集期將至，風(fēng)電加快復(fù)蘇.......................................62.12018年新增裝機容量大概率改善.............................................6風(fēng)區(qū)建設(shè)向東南部轉(zhuǎn)移影響2017年新增裝機......

2、.............................62018年棄風(fēng)率明顯改善......................................................72.22019年新增裝機增長有望延續(xù)...............................................8棄風(fēng)率下降助力2019年裝機增長.........................................

3、....8三省份解禁貢獻裝機增量.....................................................9補貼下調(diào)催發(fā)搶裝預(yù)期......................................................10分散式風(fēng)電是未來發(fā)展亮點..................................................11海上風(fēng)電或?qū)⑹且饬现獾脑隽?.....

4、........................................132.3關(guān)注制造環(huán)節(jié)盈利復(fù)蘇....................................................132.4光伏預(yù)期修復(fù)，靜待補貼政策下發(fā)..........................................14531新政影響下半年新增裝機...................................

5、.............14行業(yè)悲觀預(yù)期修復(fù)..........................................................15光伏空間廣闊，關(guān)注高市占率企業(yè)............................................16三電氣設(shè)備：特高壓建設(shè)加速利好主設(shè)備供應(yīng)商..................................163.1政策催化特高壓建設(shè)步伐加快...

6、...........................................163.2特高壓助力緩解區(qū)域間電力供需不均衡......................................18保障可再生能源并網(wǎng)，促進新能源消納........................................203.3特高壓確定性較強，建設(shè)提速利好主設(shè)備供應(yīng)商..............................21

7、交、直流主設(shè)備供應(yīng)商充分受益于建設(shè)提速....................................223.4主設(shè)備制造公司受益于特高壓建設(shè)提速......................................26四風(fēng)險提示..................................................................29表格3.多省出臺分散式裝機規(guī)劃...............