Green hydrogen stocks could be incredibly explosive.
For one, “Analysts at the investment bank noted that while the hydrogen sector has underperformed so far in 2021, it could get a serious boost from the Biden administration, with the U.S. Department of Energy recently announcing plans to reduce green hydrogen’s production costs by 80%,” according to CNBC.
In fact, Biden reportedly has a $15 billion plan for emerging technologies, like hydrogen.
In addition, “Hydrogen infrastructure is burgeoning across the world, with 7 active hydrogen refueling stations in the US and 43 in the US. There are fuel-cell busses operational in Asia, Europe, the UK, and Canada; thousands of fuel-cell trucks operating worldwide; and hydrogen fuel stock is under examination for industrial feedstock and heating, aerospace, shipping, and power generation use cases,” notes Benzinga.
Two, Goldman Sachs called hydrogen a “once in a lifetime opportunity,” adding, the addressable market could be worth up to $11.7 trillion in the next 30 years.
Analysts at Bank of America says green hydrogen could be worth more than $11 trillion by 2050. In addition, analysts at UBS say hydrogen could make up 10% of global energy consumption over the next 30 years, with the market potentially hitting $1 trillion.
“Global discussions around the potential for a hydrogen (H2) economy have accelerated in the past 12-months…H2 has been well discussed as one of the major contributing forces in helping decarbonize the world’s economy, in particular given that some industries cannot easily make the battery shift,” USB analysts said, as also quoted by CNBC.
Some of the top hydrogen stocks to keep an eye on include Plug Power (PLUG), Bloom Energy (BE), FuelCell Energy (FCEL), and Ballard Power Systems (BLDP).
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