![]() ![]() It’s in their hands whether the hydrogen hub program becomes a lifeline for big oil.” ![]() “The Department of Energy has considerable power over how this money is implemented. “We don’t want to see billions of our tax dollars spent increasing emissions and environmental harm,” said Lukas Ross, a senior program manager with the environmental group Friends of the Earth. Opponents argue that while hydrogen is a clean-burning source of power, it takes a great deal of energy to produce - and when it’s made with electricity from coal or natural gas, it has a bigger carbon footprint. ![]() “The hubs can act as engines for kick starting how these types of challenges can be sorted through.” “Clean hydrogen faces a range of first-of-its-kind challenges including cost and business models,” said Alex Kizer, a senior vice president at the Energy Futures Initiative, a Washington non-profit. The Biden administration has said the gas is needed to achieve its climate goals and has launched an effort to reduce costs - one of the biggest barriers of its widespread use - by 80% to $1 a kilogram by 2030. ![]() A West Virginia hydrogen hub backed by Senator Joe Manchin that is partnering with natural gas producer EQT Corp. and industrial gas company Air Products and Chemicals Inc. Other top contenders for Energy Department funding include a Rochester, New York, project led by a coalition of seven northeast states in conjunction with Plug Power Inc., as well as a California-based public-private partnership that includes retailer Inc. One of the people, who was granted anonymity to discuss non-public deliberations, cautioned Biden’s agenda could shift amid the administration’s evolving response to Hamas’s attack on Israel.Įarlier: US Trims Hydrogen-Hub Prospects in Race for $7 Billion in Funds Representatives of the White House and the Energy Department didn’t immediately comment. Between six and 10 are expected to receive final awards. The Energy Department in January urged 33 projects to submit full applications, after receiving 79 proposals. The awards mark the culmination of a furious race between states for the funding, which was included in 2021’s bipartisan infrastructure legislation. The project, in partnership with West Virginia and Ohio, also includes Shell Plc. The amount of hydrogen produced in the US could surge to 10 million metric tons by 2030, according to a report released earlier this year by the Energy Department.īiden is scheduled on Friday to visit Pennsylvania, which is leading an Appalachian hydrogen hub that proposes to use natural gas and carbon capture, where he will give remarks on the clean-energy transition, according to the White House. The funding for so-called hydrogen hubs, where the gas can both be produced and used, is intended to highlight its potential as carbon-free fuel to run factories and power plants. Plug Power's historical ratings below, therefore, can serve as a valuable tool for investors.(Bloomberg) - President Joe Biden is set this week to announce as much as $7 billion in funding for hydrogen projects across the country as part of a competition to jump-start production of the clean-burning fuel in the US, according to people familiar with the matter. That suggests that analyst recommendations are the outcome of an objective and thorough examination of Plug Power's financials, market performance, and future outlook by experienced professionals. Ratings generally communicate what analysts sense about Plug Power stock, and they use a lot of effort and time to analyze it and arrive at a rating. Plug Power Analyst RatingsPlug Power's analyst stock recommendations are determined by taking an average estimate of all analysts we track and classifying them as Strong Buy, Buy, Hold, Strong Sell, or Sell. Note that most analysts generally publish their price targets in research reports on specific companies, along with recommendations for the company's stock.Although price targets are often quoted in the financial news media, there could be a delay between the publication of the latest analyst outlook on Plug Power and the information provided on this page. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |