电力子板块中，新能源发电是具有确定性和高成长性的板块。“3060”碳中和目标清晰，并有明确的时间节点和量化目标，未来十年风电和光伏将迎来高速增长期，并为非化石能源消费占比达标奠定产能基础。

The global lighting market is currently undergoing a radical change and rapid transformation driven by the growing adoption of light-emitting-diode (LED) technology and the increasing popularity of lighting control systems. Lighting control systems are considered one of the most efficient ways of energy conservation. Around one-fifth of the global electricity is consumed by the lighting sector; hence, there has been a significant shift towards the adoption of lighting control systems.

Wind energy is a type of renewable energy where the wind turbine converts the wind energy into electrical energy through generator. Basically, kinetic energy of wind is converted into electrical energy through this generator. The report focuses on various wind turbines, including offshore and onshore types. It analyzes the current market trends of wind turbine and related products in different geographies, and suggests the future growth opportunities for the key market players. In addition, it highlights numerous factors that influence the growth of the global market such as key drivers, restraints, growth opportunities, and the role of different key players. Based on end user, the market is divided into industrial, residential, and commercial market, along with the quantitative data in terms of both value and volume.

4月全社会用电量同比增长 13.2%，增速较 3 月环比下降6.2 个百分点。4 月发电量同比增长11.0%，其中火电延续高增长，4
月单月增速12.5%，水电增速由负转正至3.3%（3 月为-11.5%）。（1）水电：业绩增长+高比例分红+有装机增长，继续推荐大水电。a）2021年业绩增长可期：根据目前的来水及电力供需情况，预计水电有望维持去年的增长态势；b）高比例分红：20 年华能水电提高分红比例至60%，21 年长江电力将进入新的分红阶段，按照不低于70%分红；c）新机组即将投产：2021 年7 月，多个在建水电站将进入投产期，包括三峡集团的乌东德白鹤滩，雅砻江中游的两河口杨房沟。推荐未来有装机增长的大水电长江电力、华能水电、国投电力、川投能源。（2）火电：Q2 电量有望持续高增，但受制于煤价上涨，业绩或承压。预计
Q2 火电发电量将延续高增长态势，但由于动力煤价上涨较多，预计Q2 业绩将承压。