Huatai Securities: bullish on household energy storage.

Huatai Securities research report believes that direct investment by large data center manufacturers to accelerate the construction of power grids and integrate CCGT (Combined Cycle Gas Turbine) can achieve scale cost reduction while ensuring both economic efficiency and reliability. In the gaps that cannot be covered by traditional methods, the EAAS (Equipment as a Service) model of "self-purchasing one's own equipment" by AIDC can quickly provide power and reduce the impact on electricity prices for the entire society. Both paths point to "external procurement of electrical equipment", but the slow expansion of overseas leading suppliers, along with the short-term difficulty in alleviating stage and regional mismatches, also bring opportunities for Chinese companies to increase both quantity and price. Optimistic about leading private power grid equipment companies, power equipment, blade and internal combustion engine suppliers, and energy storage equipment. In addition, the rise in electricity prices is also driving adjustments in electricity consumption patterns, and the demand for household solar energy storage is expected to rebound. Bullish on household solar energy storage.