The hydrogen economy has been a dream of many energy entrepreneurs for decades, but the reality of the energy business has made it nearly impossible to make a reality. That’s changing in 2022 because of a rapid reduction in hydrogen fuel cell costs and new subsidies for green hydrogen production from the recently passed Inflation Reduction Act.
Companies like Plug Power (PLUG -3.53%) and Ballard Power Systems (BLDP -5.11%) may get a lot of attention for their hydrogen efforts, but the best hydrogen stock to buy today is Bloom Energy (BE -4.17%). Here’s why.
The Inflation Reduction Act’s boost to hydrogen
There were $370 billion of incentives for clean energy in the Inflation Reduction Act, and hydrogen was directly impacted. On top of any incentives for building manufacturing facilities or installing hydrogen assets, there’s a direct incentive for cleaning up the…