Investment in hydrogen could surge.
In fact, according to a new report from Bloomberg Intelligence, as noted by Energy Global, “During 2018 – 2020, investments averaged approximately US$1.5 billion a year, Bloomberg data shows. This will likely increase to US$38 billion per annum during 2019 – 2040 and US$181 billion annually during 2041 – 2070, according to International Energy Agency (IEA) projections.” That could be big news for companies like Jericho Energy Ventures (TSXV:JEV)(OTC:JROOF), Plug Power (NASDAQ:PLUG), Ballard Power(NASDAQ:BLDP), Bloom Energy (NYSE:BE), and FuelCell Energy (NASDAQ:FCEL).
Plus, 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,” they added.
In addition, Goldman Sachs called hydrogen a “once in a lifetime opportunity,” adding, the addressable market could be worth up to $11.7 trillion in the next 30 years.
Analysts at Bank of America says green hydrogen could be worth more than $11 trillion by 2050. The firm compared green hydrogen to smartphones pre-2007 and the Internet prior to the dot-com boom, as also highlighted by CNBC.