Pay close attention to hydrogen stocks this year.
With countries all over the world pledging to reduce emissions, “Hydrogen would be necessary for the world’s largest emitters – the US, China, and Europe – to achieve net-zero climate targets by 2050 – 2060 by decarbonizing hard to abate industries,” says Energy Global.
Analysts at Bank of America says green hydrogen could be worth more than $11 trillion by 2050, as well. In fact, the firm compared green hydrogen to smartphones pre-2007 and the Internet prior to the dot-com boom, as also highlighted by Barron’s.
“Hydrogen, the first, lightest, and most abundant element in the universe, could supply our energy needs, fuel our cars, heat our homes and help to fight climate change,” said Haim Israel, the bank’s head of global thematic investing research.
In short, there’s substantial opportunity ahead in stocks like Plug Power (PLUG), Ballard Power Systems (BLDP), and FuelCell Energy (FCEL).