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Stock impact report

Why Europe's Hydrogen Economy Dreams Remain Just That [Yahoo! Finance]

Plug Power, Inc. (PLUG) 
Last plug power, inc. earnings: 3/5 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: ir.plugpower.com/home/default.aspx
Company Research Source: Yahoo! Finance
Among the key policies, Europe set a target to consume 20 million tons/year (Mt/y) of renewable hydrogen and install 62 GW in electrolyzer capacity by 2030. Unfortunately, the continent is quickly acknowledging a cold reality: hydrogen, really, is a hard sell. In its latest annual report , the EU Agency for the Cooperation of Energy Regulators (ACER) paints a bleak picture of the state of the continent's hydrogen sector, saying those targets are unlikely to be realized without tackling serious challenges that include production cost and infrastructure. “ The current renewable hydrogen consumption remains minimal, and while EU renewable energy and decarbonization targets could drive the demand, uptake so far has been slow, ” ACER researchers wrote. Around 62 MW of electrolyzer capacity was installed in the EU at the end of 2023, good for a mere 0.1% of the continent's 2030 target. According to ACER data, EU countries consumed 7.2 Mt of hydrogen in 2023, a -2.5% Y-o-Y drop, mostly i Show less Read more
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