Institutional research and selection | Virtual power plant is an upgraded version of the power Internet of Things, and smart grid is expected to usher in rapid development

The power Internet of Things is the application of the Internet of Things in smart grids. It is an important measure to effectively integrate communication infrastructure resources and power infrastructure resources, improve the informatization level of the power system, and improve the utilization efficiency of the existing infrastructure of the power system. The power Internet of Things is closely related to the size of the smart grid market. Affected by multiple favorable factors such as macro policies, digital technology progress and upgrades, and the acceleration of the integration of energy and the Internet, the smart grid industry has ushered in a stage of rapid development. Today we bring the investment logic of the power Internet of Things.

As the key infrastructure supporting the digital development of the power industry, the power Internet of Things will usher in rapid development. According to data from the State Grid, more than 500 million terminal devices were connected to the State Grid system at the end of 2018. The State Grid plans to predict that the number of connected terminal devices will exceed 1 billion by 2025, and the number of connected terminal devices will reach 2 billion in 2030. Only, it has become the largest Internet of Things ecosystem for access devices, bringing huge market opportunities to many fields.

Under the dual carbon goals, large-scale integration of new energy into the grid puts forward higher requirements for grid stability

Ensuring and improving the reliability of the power grid is an endogenous demand for my country's power grid. Under the 30/60 dual carbon target, it is expected that the installed capacity of wind power and photovoltaic power generation will exceed 1.7 billion kilowatts in 2030, surpassing coal power to become the main installed capacity; by 2060, new energy power generation is expected to account for more than 50%, becoming the main power source. Large-scale new energy integration on the power generation side and increasingly complex loads on the user side will have an impact on the stability of the power grid and will put forward higher requirements for grid reliability.

There are two major endogenous requirements for building a new power system dominated by new energy sources

The central government proposes to build a new power system with new energy as the main body. Its inherent requirements are: ① It is unshirkable to meet the large-scale development and high-proportion access of new energy, and play the role of a hub platform for the allocation of power grid energy resources to effectively support and Serve the process of energy supply cleanliness. ② It is unshirkable to ensure the safe and stable operation of the system and reliable power supply, and respond to the higher requirements of new energy on system adjustment capabilities and risk resistance capabilities.

The core contradiction of the power grid: peak load rather than power generation capacity

Why can’t my country’s installed power generation capacity of about 2.6 billion kilowatts solve the peak load shortage problem of about 1.3 billion? With the increase in the scale of new energy installed capacity, the core contradiction of electricity consumption has shifted from power generation installed capacity to peak load, and attention has been paid to the development opportunities of the industrial chain that solve the core technology of peak load.

Economy: Virtual power plant is one of the most economical options to solve the grid load

According to calculations by the State Grid, achieving peak load reduction and valley filling in the power system through thermal power plants to meet 5% of the peak load requires an investment of 400 billion yuan, while virtual power plants only require an investment of 50-60 billion yuan, and the cost of the virtual power plant is only 1/8-1/7 of thermal power plant.

The core of the virtual power plant is "aggregation" and "communication". It attaches great importance to the investment opportunities brought by the power Internet of Things communication technology upgrade and software cloud upgrade. The virtual power plant is an advanced regional power centralized management model. Its function is to aggregate multiple Distributed energy resources participate in the operation of the electricity market. A virtual power plant is a power supply coordination management system that uses the Internet of Things and advanced communication technology to aggregate various distributed resources such as distributed power supplies, energy storage, and adjustable loads.

(Source: Cinda Securities, Soochow Securities, Guosheng Securities)

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