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Finding Winners in the Hydrogen Hype

We focus on quality companies in an environment where investors are engaging in rank speculation.

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There is a great opportunity for hydrogen to decarbonize power generation, a major source of global greenhouse gas emissions. This has generated significant interest among governments around the world. For example, the U.S. Department of Energy recently launched an initiative to reduce the cost of renewable hydrogen by 80% to $1 per kilogram by 2030. Indeed, consensus expectations are for the hydrogen market to grow between 5 and 8 times larger than today’s by 2050. This bright outlook ignores our concerns about costs, infrastructure, and regulation, however.

Stephen Ellis does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.