中(zhong)國儲(chu)能(neng)(neng)網訊：工(gong)業(ye)(ye)互(hu)(hu)(hu)聯(lian)網獲政策(ce)加碼，能(neng)(neng)源(yuan)(yuan)(yuan)互(hu)(hu)(hu)聯(lian)網或(huo)將迎來發(fa)展(zhan)(zhan)(zhan)機遇據中(zhong)國經營報消息，十三屆全國人大一(yi)次會議上，全國政協委員、國家電(dian)網公司董(dong)事長舒印彪(biao)表(biao)示(shi)，國家電(dian)網將分別在(zai)供給側（推(tui)動(dong)(dong)清潔能(neng)(neng)源(yuan)(yuan)(yuan)發(fa)電(dian)并網）、消費側（推(tui)動(dong)(dong)電(dian)能(neng)(neng)代替(ti)提升用電(dian)能(neng)(neng)效，發(fa)展(zhan)(zhan)(zhan)電(dian)動(dong)(dong)汽車行(xing)業(ye)(ye)）以(yi)(yi)及傳(chuan)輸側（與(yu)(yu)民營企業(ye)(ye)以(yi)(yi)及當地國資進(jin)行(xing)微電(dian)網建設）推(tui)動(dong)(dong)能(neng)(neng)源(yuan)(yuan)(yuan)互(hu)(hu)(hu)聯(lian)網的(de)全面(mian)發(fa)展(zhan)(zhan)(zhan)。能(neng)(neng)源(yuan)(yuan)(yuan)互(hu)(hu)(hu)聯(lian)網是工(gong)業(ye)(ye)互(hu)(hu)(hu)聯(lian)網在(zai)能(neng)(neng)源(yuan)(yuan)(yuan)領(ling)域的(de)實(shi)質性落(luo)地，是互(hu)(hu)(hu)聯(lian)網與(yu)(yu)能(neng)(neng)源(yuan)(yuan)(yuan)生(sheng)產、傳(chuan)輸、存儲(chu)、消費深度融合(he)的(de)產業(ye)(ye)發(fa)展(zhan)(zhan)(zhan)新形態，對優化能(neng)(neng)源(yuan)(yuan)(yuan)資源(yuan)(yuan)(yuan)配置(zhi)，提高能(neng)(neng)源(yuan)(yuan)(yuan)利用效率，推(tui)動(dong)(dong)能(neng)(neng)源(yuan)(yuan)(yuan)供應(ying)與(yu)(yu)工(gong)業(ye)(ye)生(sheng)產需求互(hu)(hu)(hu)聯(lian)互(hu)(hu)(hu)通(tong)具(ju)有重要(yao)意(yi)義。在(zai)近期政策(ce)不斷加碼的(de)背景下，我們(men)建議投資者(zhe)應(ying)積極給予關注。

　　能(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)(yuan)(yuan)互(hu)(hu)(hu)聯網(wang)(wang)(wang)或(huo)(huo)將(jiang)以電(dian)力(li)為(wei)(wei)(wei)(wei)主，基(ji)于(yu)互(hu)(hu)(hu)聯網(wang)(wang)(wang)架構(gou)構(gou)建三大平(ping)(ping)臺(tai)(tai)相比較其(qi)它(ta)一(yi)次(ci)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)(yuan)(yuan)，電(dian)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)在能(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)(yuan)(yuan)傳(chuan)輸與轉換等方(fang)面都更(geng)具優(you)勢，電(dian)網(wang)(wang)(wang)的(de)基(ji)礎設(she)施也相對(dui)較為(wei)(wei)(wei)(wei)完備，因此我們認為(wei)(wei)(wei)(wei)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)(yuan)(yuan)互(hu)(hu)(hu)聯網(wang)(wang)(wang)或(huo)(huo)將(jiang)會以電(dian)力(li)為(wei)(wei)(wei)(wei)主，以一(yi)次(ci)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)(yuan)(yuan)為(wei)(wei)(wei)(wei)輔。電(dian)力(li)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)(yuan)(yuan)互(hu)(hu)(hu)聯網(wang)(wang)(wang)將(jiang)基(ji)于(yu)互(hu)(hu)(hu)聯網(wang)(wang)(wang)理(li)念，設(she)計(ji)實現(xian)不同(tong)層級以及(ji)不同(tong)網(wang)(wang)(wang)絡架構(gou)之(zhi)間的(de)互(hu)(hu)(hu)聯互(hu)(hu)(hu)通。電(dian)力(li)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)(yuan)(yuan)互(hu)(hu)(hu)聯網(wang)(wang)(wang)的(de)核心是構(gou)建一(yi)個(ge)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)(yuan)(yuan)、數(shu)據和資金三合一(yi)的(de)互(hu)(hu)(hu)聯網(wang)(wang)(wang)平(ping)(ping)臺(tai)(tai)。其(qi)中(zhong)，能(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)(yuan)(yuan)交換平(ping)(ping)臺(tai)(tai)將(jiang)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)促進(jin)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)(yuan)(yuan)交換，尤(you)其(qi)是微網(wang)(wang)(wang)內的(de)新能(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)(yuan)(yuan)交換；數(shu)據交換平(ping)(ping)臺(tai)(tai)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)夠(gou)促進(jin)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)(yuan)(yuan)大數(shu)據的(de)深度挖(wa)掘，為(wei)(wei)(wei)(wei)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)(yuan)(yuan)的(de)生產、傳(chuan)輸、消費(fei)以及(ji)政(zheng)府部門提供決策依據；資金交換平(ping)(ping)臺(tai)(tai)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)夠(gou)促進(jin)能(neng)(neng)(neng)(neng)(neng)(neng)(neng)源(yuan)(yuan)(yuan)(yuan)的(de)靈(ling)活交易(yi)。

　　能源(yuan)互聯網(wang)漸(jian)入(ru)推廣期(qi)，未來市場空(kong)間大(da)

　　能(neng)(neng)(neng)(neng)源(yuan)(yuan)互聯(lian)網當前正處于示范項目密集落(luo)地階段，未(wei)來發(fa)展方向(xiang)明確。按(an)照國(guo)家規劃，今年國(guo)家示范網絡趨于成熟，2019年將(jiang)進入能(neng)(neng)(neng)(neng)源(yuan)(yuan)互聯(lian)網全面推(tui)廣期(qi)，我們預計未(wei)來市場空間(jian)大。能(neng)(neng)(neng)(neng)源(yuan)(yuan)互聯(lian)網旨(zhi)在建立新(xin)(xin)型(xing)能(neng)(neng)(neng)(neng)源(yuan)(yuan)市場交易(yi)體(ti)系和(he)(he)商業運營模(mo)式(shi)(shi)，發(fa)展分布式(shi)(shi)能(neng)(neng)(neng)(neng)源(yuan)(yuan)、儲能(neng)(neng)(neng)(neng)和(he)(he)電動汽車應(ying)用(yong)、智(zhi)慧用(yong)能(neng)(neng)(neng)(neng)和(he)(he)增值服務、綠色能(neng)(neng)(neng)(neng)源(yuan)(yuan)靈活交易(yi)、能(neng)(neng)(neng)(neng)源(yuan)(yuan)大數據服務應(ying)用(yong)等新(xin)(xin)模(mo)式(shi)(shi)和(he)(he)新(xin)(xin)業態。

　　建議投資者關(guan)注相關(guan)領域布(bu)局的龍(long)頭企業。

　　提(ti)前布局(ju)的企業有望充(chong)分(fen)享(xiang)受(shou)市(shi)場紅利

　　能(neng)源(yuan)(yuan)互聯網(wang)的運(yun)營企(qi)(qi)(qi)業(ye)需要提供(gong)面向最終用戶的一(yi)攬子(zi)解決方(fang)案，包括電(dian)力規(gui)劃、設(she)計(ji)、安全、數(shu)據分(fen)析(xi)、運(yun)維(wei)等，在電(dian)力行業(ye)具備(bei)多年信息化(hua)經驗和提供(gong)綜合解決方(fang)案的能(neng)力的企(qi)(qi)(qi)業(ye)有望受(shou)益(yi)。能(neng)源(yuan)(yuan)互聯網(wang)有望推動以分(fen)布(bu)式發電(dian)為主的新能(neng)源(yuan)(yuan)逐步替代大規(gui)模集中(zhong)利用的化(hua)石燃料成(cheng)為主要能(neng)源(yuan)(yuan)，布(bu)局(ju)新能(neng)源(yuan)(yuan)發電(dian)的企(qi)(qi)(qi)業(ye)也將有望受(shou)益(yi)。

　　投資建議

　　我(wo)們認為，能(neng)源互(hu)聯(lian)網(wang)作(zuo)為工業(ye)互(hu)聯(lian)網(wang)的(de)一個(ge)重要子領(ling)域(yu)有(you)望(wang)迎來發展機遇。國內的(de)能(neng)源互(hu)聯(lian)網(wang)產(chan)業(ye)蘊含著較(jiao)大的(de)投(tou)資價(jia)值，我(wo)們建議(yi)可以從能(neng)源互(hu)聯(lian)網(wang)運(yun)營(ying)、新能(neng)源發電及儲能(neng)等(deng)領(ling)域(yu)來尋找投(tou)資機會。推薦新能(neng)源儲能(neng)龍(long)頭南都電源，建議(yi)關(guan)注能(neng)源互(hu)聯(lian)網(wang)運(yun)營(ying)龍(long)頭中恒電氣。

　　風險提示：能源互聯網項目推進不達預期，建設規模低于預期，國家扶持政策力度低于預期，出臺速度慢于預期。