A multi-trillion-dollar hydrogen boom is underway, fueling substantial upside for related companies such as Jericho Energy Ventures (TSXV:JEV)(OTC:JROOF), Plug Power (NASDAQ:PLUG), Ballard Power(NASDAQ:BLDP), Bloom Energy (NYSE:BE), and FuelCell Energy (NASDAQ:FCEL).
For one, Raymond James’ analyst Michael Glen, for example, just said 2021 could be a “watershed moment” for hydrogen. In fact, he expects to see far more hydrogen-related announcements going countries all around the world. Two, by 2027, the market could be worth up to $300 billion, says Global Market Insights. In addition, over the last year, “both the Biden Administration and Congress have proposed new and expanded tax credits and other incentives to stimulate hydrogen investment,” according to Lexology.com.
“In May 2021, the Treasury Department released the “Green Book,” which further discussed hydrogen tax incentives. The Green Book proposes a new six-year production tax credit (PTC) for the production of low-carbon hydrogen in qualified facilities for which construction begins before 2026, where the end use of the hydrogen is for energy, industrial, chemical, or transportation purposes,” added Lexology.com.