算力革命撞上能源缺口：全球电力投资共振下的五大黄金赛道

脱水君的后花园2025-12-25

一、核心背景与行业趋势美国电力供需缺口显著：OpenAI计划2033年部署250GW算力中心，2030年美国最高用电负荷将达1000GW，考虑机组退役时电力缺口182GW，不考虑退役缺口89GW。国内电力供需或重回紧张：中美科技竞争下，国内AIDC投资有望超预期，中性/乐观情景下，AIDC和充电桩将拉动十五五用电量复合增长率1.1pct/1.5pct。技术迭代驱动设备升级：GPU功耗提升推动电源...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2594256385?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2025-12-25 10:35","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2594256385","market":"us","top_or_hot":-1,"title":"算力革命撞上能源缺口：全球电力投资共振下的五大黄金赛道","media":"脱水君的后花园","content":"<div>\n<p>一、核心背景与行业趋势美国电力供需缺口显著：OpenAI计划2033年部署250GW算力中心，2030年美国最高用电负荷将达1000GW，考虑机组退役时电力缺口182GW，不考虑退役缺口89GW。国内电力供需或重回紧张：中美科技竞争下，国内AIDC投资有望超预期，中性/乐观情景下，AIDC和充电桩将拉动十五五用电量复合增长率1.1pct/1.5pct。技术迭代驱动设备升级：GPU功耗提升推动电源...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251225104556a475a737&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>算力革命撞上能源缺口：全球电力投资共振下的五大黄金赛道</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n算力革命撞上能源缺口：全球电力投资共振下的五大黄金赛道\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-12-25 10:35 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251225104556a475a737&s=b><strong>脱水君的后花园</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>一、核心背景与行业趋势美国电力供需缺口显著：OpenAI计划2033年部署250GW算力中心，2030年美国最高用电负荷将达1000GW，考虑机组退役时电力缺口182GW，不考虑退役缺口89GW。国内电力供需或重回紧张：中美科技竞争下，国内AIDC投资有望超预期，中性/乐观情景下，AIDC和充电桩将拉动十五五用电量复合增长率1.1pct/1.5pct。技术迭代驱动设备升级：GPU功耗提升推动电源...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251225104556a475a737&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SST","symbol_name":"System1","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251225104556a475a737&s=b","article_id":"2594256385","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251225104556a475a737&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, .wx-sou","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2594256385","pubTimestamp":1766630150,"columns":[{"name":"黄金","id":5,"label_key":null}],"sourceInfo":{"source_id":"tencent","name":"腾讯"},"weMediaInfo":null,"summary":"2、板块价值：美国气电订单激增、核电装机目标上调至400GW，国内为保供及碳达峰目标，常规电源与新能源装机需求双升。","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"SST":"System1","BK4077":"互动媒体与服务","01164":"中广核矿业","01133":"哈尔滨电气","BK4182":"重型电气设备","SIELY":"上海电气ADR"},"translate_title":"The computing power revolution hits the energy gap: five golden tracks under the resonance of global power investment","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"01133":0.9,"01164":0.9,"SIELY":0.9,"SST":1},"content_text":"一、核心背景与行业趋势美国电力供需缺口显著：OpenAI计划2033年部署250GW算力中心，2030年美国最高用电负荷将达1000GW，考虑机组退役时电力缺口182GW，不考虑退役缺口89GW。国内电力供需或重回紧张：中美科技竞争下，国内AIDC投资有望超预期，中性/乐观情景下，AIDC和充电桩将拉动十五五用电量复合增长率1.1pct/1.5pct。技术迭代驱动设备升级：GPU功耗提升推动电源架构向800VDC演进，固态变压器（SST）成长期终极解决方案。二、核心板块故事、价值及相关公司（一）发电侧：主力电源+应急补位，缺口驱动投资1、板块故事：美国以气电、核电为核心主力电源，储能、SOFC（固体氧化物燃料电池）作为应急补位手段；国内常规电源与新能源需同步加码以应对需求增长。2、板块价值：美国气电订单激增、核电装机目标上调至400GW（2050年），国内为保供及碳达峰目标，常规电源与新能源装机需求双升。3、相关公司：海外燃机供应商：东方电气、杰瑞股份、应流股份、西子洁能、博盈特焊、飞沃科技核燃料原料商：中广核矿业SOFC相关：Bloom Energy（美股）、三环集团、壹石通、密封科技、中鼎股份、顺络电子、振华股份储能相关：阳光电源、阿特斯、海博思创国内常规电源设备商：东方电气、哈尔滨电气、上海电气（二）电网侧：投资上调+出口机遇，内外需求共振1、板块故事：美国电网投资从2024年起突破300亿美元，2025-2027年预计达378亿、427亿、434亿美元；中国变压器对美及非美地区出口持续高增。2、板块价值：美国负荷增长+电网老化驱动投资，全球产能虹吸效应下，中国电网设备出口空间打开；国内电力需求增长带动电网建设加码。3、相关公司：对美出口敞口：思源电气、华明装备、金盘科技、神马电力非美地区出口：三星医疗、特锐德、特变电工、中国西电国内电网设备商：许继电气、国电南瑞、平高电气、中国西电（三）电源设备：800VDC+SST，技术迭代催生增量板块故事：英伟达推动800VDC直流架构，相比415V交流功率提升157%，SST可直接将中压交流转换为800VDC，成终极解决方案。板块价值：算力中心机柜功率激增+空间紧张，800VDC架构普及带动SST等设备需求，行业标准化进程加速降本。相关公司：四方股份、新特电气、中国西电、特锐德、金盘科技、伊戈尔、云路股份、京泉华三、","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2594256385","isCrawlerRequest":true}