新能源政策变革下的电站价值重构与虚拟电厂破局之道

天合光能2025-07-17

随着国家发改委136号文的全面实施，新能源电站价值评估体系正经历深刻变革。新政策要求风电、光伏等新能源电量全量进入电力市场，电价完全由交易形成。这一变革打破了过往“保量保价”的稳定预期，将电站收益拆解为“机制电价保障+市场化交易”双轨模式。其中，存量项目通过差价结算机制锁定基础收益（机制电价≈当地煤电基准价），而增量项目需通过竞价获取更低机制电价，且保障比例逐年降低。这种模式下，电站收益的核心变量...

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